29 Apr '17, 9pm

[email protected] @IndianaCSmedia Danish energy giant commits to phasing out coal by 2023

Earlier today, I reported that Deutsche Bank is going to stop financing new coal mines and power stations , and reduce its exposure to existing coal-dependent assets too. Obviously, this move has benefits in terms of the bank's corporate responsibility commitments, but there's another important aspect to this tale: It just doesn't make sense financially anymore. No sooner do I write this than I get another confirmation of the way the wind is blowing: Danish energy giant DONG (yes, snickering is allowed) has committed to phasing out coal from its energy mix by 2023 . This move probably shouldn't come as a surprise. As the graphic above shows, DONG has already reduced its coal dependence by 73% since 2006. But the fact that they are announcing a complete phase out is still encouraging: coal's decline isn't likely to plateau out with a reduced market share. It's going to go t...

Full article: https://www.treehugger.com/fossil-fuels/danish-energy-gia...

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