Coal India Ltd, under the leadership of Michelle Manook, CEO of the World Coal Association now rebranded as FutureCoal, discussed the imperative need for investing in abated coal projects for a sustainable energy transition. Manook emphasized the continued significance of coal beyond traditional uses and highlighted the responsibility of integrating abated coal solutions into the global energy transition strategy.

Addressing the media during the launch of the FutureCoal Global Alliance, Manook emphasized the necessity of an international policy framework that embraces all fuels and technologies, recognizing coal's pivotal role in both economic development and emissions reduction.

However, the association stressed the urgency for increased financing in the sustainability of the coal industry to ensure fair and accessible energy sources. Sunil Chaturvedi, a board member of the FutureCoal Global Alliance, highlighted India's energy concerns due to heavy reliance on energy imports, particularly oil and gas, which incur substantial costs for the nation.

While acknowledging the government's push for expanding renewable energy capacity, the alliance advocated for maintaining coal-powered capacity at around 20% by 2040, stressing the need to explore available abatement opportunities for coal-based power without compromising its role in the energy mix.

Members also underscored the adverse impact of the prevalent anti-coal sentiment on global coal IQ, asserting that it has hindered progress, especially in developing and emerging nations, and is poised to affect developed countries. This sentiment could further impede advancements in the coal sector, particularly in regions where coal is a crucial energy source.

The International Energy Agency's earlier projection of robust global coal demand for the current financial year reflects the continued significance of coal in power generation and industrial applications, primarily driven by substantial growth in Asia.