While the UN prepares for a new climate agreement in Paris and the G7 nations make the first clear steps towards climate change mitigation, Glencore has been using the low coal prices to acquire additional mining areas.1
According to Glencore, coal continues to be the cheapest means to generate energy. Despite the current downturn, the company is certain that the demand in the coming years will increase, especially in so-called developing countries. That through coal energy, people will be lifted out of poverty.2
The coal industry is one of the largest drivers of climate change, the devastating impacts of which no longer pose a problem for the future but tangible consequences can already be seen, such as droughts or floods. These impacts disproportionately affect those living in the global South – and thus the people to whom Peter Freyberg promises a way out of poverty through coal.