has been displaced by cheap gas, which contributed to the country’s largest coal producer,
Peabody, filing for bankruptcy protection in
2016. Elsewhere major miners have divested
their steam coal assets into bad banks, such as
BHP’s spin-off South32; or to emerging market
state-owned enterprises, such as Rio Tinto’s
divestment of its Australian coal assets to
Chinese SEO Yancoal in early 2017. Second, is
the impact of the rapidly declining price of
renewables—even in coal strongholds like South
Africa and India—where renewable auctions and
wind power in particular continue to set record
low prices.
Major coal producer-consumers have made
similar commitments at home, not least because
Fig. 11 G20 share of
primary energy demand and
production (2013). Source
Chatham House analysis of
EIA data
Fig. 10 G20 initiatives on energy. Note FF = fossil fuels; WG = Working Group
Special Report 5: International Energy Cooperation and Governance
611
Peabody, filing for bankruptcy protection in
2016. Elsewhere major miners have divested
their steam coal assets into bad banks, such as
BHP’s spin-off South32; or to emerging market
state-owned enterprises, such as Rio Tinto’s
divestment of its Australian coal assets to
Chinese SEO Yancoal in early 2017. Second, is
the impact of the rapidly declining price of
renewables—even in coal strongholds like South
Africa and India—where renewable auctions and
wind power in particular continue to set record
low prices.
Major coal producer-consumers have made
similar commitments at home, not least because
Fig. 11 G20 share of
primary energy demand and
production (2013). Source
Chatham House analysis of
EIA data
Fig. 10 G20 initiatives on energy. Note FF = fossil fuels; WG = Working Group
Special Report 5: International Energy Cooperation and Governance
611