Peabody CEO Gregory Boyce said high-efficiency supercritical generation and today's advanced coal technologies would provide ultra-low emission power sources.
"Worldwide, supercritical technologies are in broad use with more than 600 gigawatts in operation or under construction,” Boyce said.
“These highly efficient, commercial technologies, available today, will be essential in ensuring that those in the developing world have access to the reliable, affordable energy that will allow us to meet the economic and poverty eradication goals outlined by G20 leaders in Brisbane this month.
“In recent years we've seen carbon caps and taxes wreak havoc on developed economies for negligible environmental gain, whereas advanced coal technologies offer a concrete path toward significant environmental progress on a global scale.”
The leaders' communique includes 21 agreed-upon action items based on discussions that took place during the two-day global summit.
Raising global growth was identified as the highest priority, with poverty eradication included in the communique as a standalone goal.
Member nations committed to actions that contribute to “inclusive and sustainable growth” in developing countries.
The communique also identified increased collaboration on energy as a priority and targets energy efficiency improvements as a means of addressing the rising demands of sustainable growth and development.
Boyce noted that global electricity demand was expected to climb nearly 70% by 2030, based on the International Energy Agency's current policy scenario, and said that “inclusive and sustainable growth” would be impossible for developing nations unless leaders were willing to embrace an all-of-the-above approach to energy policy that included greater use of “21st century coal”, a concept that the Chinese and US governments introduced in 2009.
“We applaud G20 leaders for prioritising global growth that will deliver better living standards and quality jobs for people across the world,” Boyce said.
"We also commend G20 leaders for recognising that strong and resilient energy markets are critical to economic growth and that improving energy efficiency will be a key means of improving energy access and security.
“Simply put, affordable energy is the backbone of strong economies and without it, our shared development and poverty eradication goals will remain out of reach."
