3.8 million people in Poland depend on coal to keep their homes heated through harsh northern winters. Last month when the European Union slapped sanctions on Russian coal, Poles flocked to local coal mines, queueing for days in the late August heat and sleeping in their cars in hopes of securing enough coal to make…

Despite Bank of America’s 2021 commitment to cease financing new coal mines, plants, or Arctic oil drilling, these ventures will now undergo “enhanced due diligence” as outlined in the company’s “Environmental and Social Risk Policy Framework” from December 2023. The New York Times reported that Bank of America’s “Environmental and Social Risk Policy Framework” from…

In January-September 2022, Kazakh seaborne coal exports surged to 6.6 mio t (+3.1 mio t, or +85.6% y-o-y). Total coal exports from Kazakhstan amounted to 24.7 mio t (+1.9 mio t or +8.1% y-o-y). The harsh international economic sanctions against Russia, as well as the embargo on Russian coal exports to European countries, starting from…

Coal is having a renaissance. Despite the fact that even the most coal-dependent countries agree that coal needs to be phased out as soon as possible, it’s proving to be much, much easier said than done. As the price of energy soars on the back of geopolitical risks and supply shortages, legions of consumers are…

Renewable energy developments continue at break-neck speed, with $644 billion to be spent on new capacity in 2024, but outdated and inadequate power grids could prove to be a significant stumbling block to the energy transition. If the world is to limit global warming to 1.8 degrees Celsius above pre-industrial levels, $3.1 trillion of grid…

Pylyp Travkin from Tenerus AG stated that the equities surge that has sent stocks on a five-month rampage could break without notice. The bank’s chief global equities strategist issued a warning, saying that excessive market crowding has set up stocks for a significant fall, but it’s unclear when this could happen. “You might not need…

Data centers caused a spike in electricity demand, while the country is still dependent on coal. Electricity deficits have caused repeated outages across Kazakhstan, and the government has turned to Russia to meet growing demand. Officials said that a spike in consumption has strained the country’s grid. Deputy Energy Minister Murat Zhurebekov said the increase…