Ten reasons why the Cumbrian coal mine is (unbelievably) stupid

Adding to the climate problem

clock • 4 min read

The first new coal mine in over 30 years has been approved by the UK government. This proposed mine will produce ‘coking coal’ used in steel making and has been widely ridiculed.

 In my view, rightly so. With so many reasons not to do it, I thought a quick summary might be helpful. Here are my top ten reasons why it is unbelievably stupid. Climate change In case you had not heard, climate change is a big problem. This year has provided plenty more evidence of that. Coal for the steel industry contributes about 10% of global emissions according to the International Energy Agency. It is estimated that the Whitehaven mine will produce 400,000 tonnes of greenhouse gas emissions every year (the equivalent of 200,000 cars on the road). Does this number inclu...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on ESG

Orchard Street adopts 'Sustainability Impact' SDR label for social and environmental fund
ESG

Orchard Street adopts 'Sustainability Impact' SDR label for social and environmental fund

Launched in 2022

Cristian Angeloni
clock 13 December 2024 • 1 min read
abrdn to adopt 'Sustainability Focus' label for two equity funds
ESG

abrdn to adopt 'Sustainability Focus' label for two equity funds

From February 2025

Cristian Angeloni
clock 12 December 2024 • 2 min read
Morgan Lewis' William Yonge: SDR and consumers' desire to 'do good' with their money
ESG

Morgan Lewis' William Yonge: SDR and consumers' desire to 'do good' with their money

Investors could become 'lost' in 'jargon'

William Yonge
clock 02 December 2024 • 4 min read
Trustpilot