Investors shine spotlight on coal groups over climate change risk


The world’s largest coal mining companies need to show how they will reduce their carbon emissions to meet global climate targets under the Paris accord, according to an investor-backed group led by the Church of England.

根据以英国圣公会(Church of England)为首的一个投资者组织的说法,全球各大煤炭开采企业必须展示他们将如何降低碳排放以实现巴黎协议下的全球气候变化目标。

Only two of the 20 largest listed coal companies — Rio Tinto and Brazil’s Vale — have long-term targets for reducing their emissions, according to a report published on Tuesday by the Transition Pathway Initiative, a coalition of investment funds with £34tn under management.

由旗下总共管理着34万亿英镑资产的多只投资基金组成的联盟“过渡路径行动”(Transition Pathway Initiative)周二发布的一份报告,20家最大上市煤炭企业中,只有两家(力拓(Rio Tinto)和巴西淡水河谷(Vale))制定了降低排放的长期目标。

Three coal companies, DMCI Holdings, Inner Mongolia Yitai Coal, and Shougang Fushan Resources Group, do not even acknowledge climate change, the study said. The report comes after the Paris climate change agreement to limit global warming to below 2 degrees Celsius above pre-industrial levels came into effect last November.

该研究报告表示,DMCI控股公司(DMCI Holdings)、内蒙古伊泰煤炭股份有限公司(Inner Mongolia Yitai Coal)和首钢福山资源集团(Shougang Fushan Resources Group)这三家企业甚至不承认存在气候变化问题。该报告发布之前,巴黎气候变化协定在去年11月份生效,旨在将全球升温幅度限制在比工业化之前水平高2摄氏度以内。

“We still need to be able to assess the future carbon reductions of these companies against the globally agreed 2 degree pathway,” said Adam Matthews, head of engagement for the almost £10bn of pension and investment funds of the Church of England.

英国圣公会规模近100亿英镑的养老金和投资基金的社会参与主管亚当•马修斯(Adam Matthews)表示:“我们仍然需要有能力评估一下,针对全球同意的2摄氏度目标的实现路径,这些企业未来的碳排放减少量应为多少。”

While many large investors have shunned coal, shares in producers have returned 38 per cent over the past year, according to the VanEck Vectors Coal ETF.

根据VanEck Vectors Coal ETF的说法,尽管许多大型投资者已回避煤炭,但过去一年里煤炭生产商的股票已产生38%的回报。

Benchmark Australian thermal coal prices more than doubled in 2016 and briefly rose above $100 a tonne after China imposed curbs on its domestic producers.


While demand for coal is declining in the developed world, it is not likely to peak in China until 2026, according to Bloomberg New Energy Finance. Coal will still make up 30 per cent of the power-generation mix of the country in 2040, the research group said in a recent report.

根据彭博新能源财经(Bloomberg New Energy Finance)的说法,尽管发达国家对煤炭的需求正在下滑,但中国对煤炭的需求不太可能在2026年之前见顶。该研究组织在近期一份报告中表示,2040年煤炭占中国发电能源结构的比重仍将达到30%。

Greater transparency on action by mining companies could help investors and index providers better judge which companies were dealing with climate change, rather than avoiding coal companies altogether, said Jon Samuel, head of social performance and engagement at Anglo American.

英美资源集团(Anglo American)社会表现及参与主管乔恩•塞缪尔(Jon Samuel)表示,提高采矿企业行动透明度可能有助于投资者和指数提供商更好地判断哪些企业在应对气候变化——而不是完全回避煤炭企业。

The study, conducted by the London School of Economics and Politics, tracked companies through five levels based on 14 questions related to climate change. Only three companies made it to the top level, Anglo American, BHP Billiton and Rio Tinto, but none of them met all of the criteria in that top level, it said.

这项由伦敦政治经济学院(London School of Economics and Political Science)开展的研究,根据与气候变化有关的14个问题,将相关企业经跟踪研究后划分为五个级别。该研究报告表示,只有英美资源集团、必和必拓(BHP Billiton)和力拓被划到了最高级别,不过这三家企业也没有一家达到最高级别的所有评价标准。

In addition, only seven out of the 20 largest listed coal mining companies reported the emissions from the downstream burning of their coal, so-called lifecycle carbon emissions.