“This is equivalent to running the Kyoto Protocol three times over,” he said.

“We welcome efforts being made to reduce global CO2 emissions from all fossil fuels. The world’s carbon intensive industries need to work together to develop the most cost-effective response to the challenge of climate change, including carbon capture and storage.”

By 2040, coal will overtake oil to become the largest fuel in Southeast Asia’s regional energy mix.

For many countries the energy choice for years to come will be coal, according to Sporton.

“The International Energy Agency World Energy Outlook Special Report on Southeast Asia highlights the critical role coal plays in meeting energy needs in the region,” he said.

“The IEA has shown that coal is emerging as the fuel of choice due to its relative abundance and affordability in Southeast Asia. Coal demand will expand at the fastest rate among all energy sources and reach 440 Mtce in 2040, a level comparable to India today.”

The IEA projects the share of coal in power generation in Southeast Asia to rise from 32% to 50%; gas will experience the opposite trend declining from current levels of 44% to 22%.

The rise in coal in the region is due to economic factors, abundant supplies and the need for rapid electrification with Indonesia, Malaysia and Thailand expected to lead growth.

“It’s unrealistic to claim we can simply fuel switch to reduce global CO2 emissions,” Sporton said. “Instead, what’s needed is to quicken the deployment of all low emission technologies, including high efficiency low emission coal technologies, alongside pushing forward with the development of CCS.

“CCS is needed on coal and gas power plants. The world’s first large-scale CCS project was launched in 2014 at SaskPower’s coal-fired Boundary Dam power plant in Canada. This coal-fired CCS project is an exciting example of what can be achieved, capturing 90% of CO2, equivalent to taking 250,000 cars off the road each year.”

Coal, oil and gas all have significant contributions to make in meeting global energy needs affordably and securely, while also reducing CO2 emissions, according to Sporton.

“The WCA supports closer co-operation with other industries as we work together to deliver a comprehensive response to the energy and environment challenges the world faces,” he said.