Peabody Energy CEO Gregory H. Boyce has been named chairman of the International Energy Agency’s (IEA) Coal Industry Advisory Board (CIAB) along with the release of its newest report, 21st Century Coal: Advanced Technology and Global Energy Solution. The CIAB is a group of chief executives and senior-level officials from coal-related industrial enterprises worldwide established in 1979 by the IEA, a Paris-based organization operating under the Organization for Economic Cooperation and Development (OECD).
The 122-page CIAB report focusing on technology to achieve near-zero emissions was welcomed by officials of the World Coal Association (WCA). “This is an important piece of advice to global policymakers on the role of coal in a carbon-constrained world,” said Milton Catelin, WCA chief executive. “It demonstrates a clear technological pathway to providing cleaner energy access to the 1.3 billion people who lack it.”
The report found efficiency power generation from coal is the first step in lowering carbon dioxide emissions; major advancements in coal technology are taking place today in the efficiency, emissions and costs. Advanced generation, according to the report, is a must to reduce greenhouse emissions—together with the development of major carbon capture and storage projects globally.
The report includes case studies on coal-fired power plants’ flexibility in maintaining grid stability and uninterrupted electricity flows—while addressing potential enhanced oil recovery to restore momentum for carbon capture technology.
“Coal will remain the cornerstone fuel in the global energy for decades,” said the report. “In 2013, the IEA should re-educate OECD leaders on this aspect of world energy. Such an initiative would be contributing to a greater understanding of crucial energy on the part of policymakers and the public they serve.”
“Going forward, we will need all forms of energy to meet growing global demand,” said Boyce, who had served as CIAB deputy chairman since 2010.
The report was prepared by the Electric Power Research Institute, with Advanced Resources International Inc., CONSOL Energy and Peabody Energy. It can be found at www.iea.org/publications/insights/.