Peabody: Best ESG-Responsible Mining Company Global 2020
Peabody makes a bold case for coal as a sustainable energy source. The NYSE-listed company understands that this is a controversial claim, but backs it with facts — and action. As a signatory of the UN Global Compact, it publicises its SDG objectives and performance in comprehensive annual reports. It presents a three-pillar case for coal’s sustainability: high-demand markets, advanced technology, and financial opportunity. Global coal usage totals some 7.5 billion tonnes annually, with more than 100 gigawatts of electricity to be brought online over the next two years. An increase in high-efficiency, low-emission (HELE) and carbon capture, use and storage (CCUS) technologies has enabled a transition towards more sustainable production — while continuing to meet rising global energy demands. Peabody argues against “symbolic but misguided divestment actions” that aim to end the entire fossil fuel industry. It believes that engagement and ESG-based investment should be used to shape the future of the industry, rewarding responsible players with financial backing for sustainable growth. It provides thermal and metallurgical coal products to the power and steel sectors in 25 countries on six continents. Peabody says its products provide economies and improve quality of life — and its ESG actions deliver meaningful benefits for stakeholders. The CFI.co judging panel presents Peabody, a repeat programme winner, with the 2020 global award for Best ESG-Responsible Mining Company.
