Jul, 18 2014

How Advanced Coal Can Achieve Global Energy, Economic and Environmental Goals

By Gregory H. Boyce, Chairman and Chief Executive Officer of Peabody Energy (NYSE: BTU)

For America and Australia, coal has driven prosperity and economic growth. Today, our nations are engaged in considerable policy debate on resources and energy. How do we continue to benefit from world-leading coal sectors, while achieving energy security and our environmental objectives? The answer is through advanced coal, the low-cost solution to lift billions to a better life and reindustrialize economies. My company – Peabody Energy – is the world’s largest private-sector coal company. We employ more than 8,000 people, operate 27 mines in our two nations, and supply customers on more than six continents with a product that is essential to electricity and steelmaking.

Our world continues to use more energy and more coal to create energy access for billions of people who lack proper energy for basic needs and to sustain growth for a new global middle class as people migrate to urban centers and embrace modern living. Consider that the U.N. Millennium goals call for a rapid halving of extreme global poverty by 2015, yet today there are still some 3.5 billion people who lack proper energy. As many as 1.2 billion children are affected. Earlier this year, Peabody launched the global Advanced Energy for Life campaign to build awareness and support to end energy poverty, increase access to low-cost electricity and improve emissions using today’s advanced clean coal technologies.

Coal is the only sustainable fuel that can satisfy the growing, global need for energy at scale. Coal has been the world’s fastest-growing major fuel over the past decade, and demand continues to rise. Coal is set to surpass oil as the world’s largest energy source in coming years. We also see a growing trend where countries are turning back to coal as a result of changing policies, security concerns and economic factors. For example, Australia is working to end the failed carbon tax scheme – a move that is expected to ultimately restore jobs and strengthen the country’s competitive advantage.

Peabody advocates a practical global policy path that recognizes the need for low-cost electricity while leading to continuous emissions improvements. This includes insistence on low-cost electricity, efficiency improvement investments at existing plants; deployment of advanced supercritical coal plants; and greater research and development toward next generation coal technologies such as carbon capture, use and storage. The U.S. experience demonstrates that greater deployment of today’s advanced clean coal technologies can deliver affordable, reliable power with reduced emissions rates. Coal used for electricity generation in the United States has increased by more than 170 percent since 1970, while major power plant emissions rates have been reduced by nearly 90 percent. Research and development are underway to progress next generation technologies toward the ultimate goal of coal-fueled power virtually free of emissions.  

For both America and Australia, coal has helped enable economic prosperity and a better quality of life. We also share an important opportunity: Our nations have the global leadership to create policy solutions that will help combat energy poverty, increase access to low-cost electricity and improve emissions to achieve our environmental goals. I invite you to learn more at and


AAA Inc. 2014 New York Benefit Dinner - 5 November

The US office of the AAA is pleased to announce Stephen A. Schwarzman, Chairman, CEO and Co-Founder of Blackstone and David T. Seaton, Chairman and CEO of Fluor as the honouree's of the 2014 Benefit Dinner to be held in New York City on 5 November.  More Info


Seminar: Equity and Hedge Funds after the Global Financial Crisis

UCLA/Los Angeles & University of Melbourne Professor of Law, Timothy Spangler

Sydney: Tuesday 22 July at 7:30am

AAA Ltd. Corporate Members Allens Linklaters will be sponsoring a transactional law seminar through the Melbourne Law School featuring Timothy Spangler speaking on Private Equity and Hedge Funds.  Designed to function outside the rules that govern other financial organisations, what is it they do and  - significantly - how is it that they have prospered since the 2008 meltdown?

Author, lawyer and academic, Timothy Spangler is a Senior Fellow at Melbourne Law School, Adjunct Professor of Law at UCLA and Visiting Lecturer at London's University College Faculty of Law. A regular financial commentator on ABC Radio, he has appeard on CNN, CNBC, BBC and Sky News.  His articles have been featured in the New York Times, the Wall Street Journal, the Washington Post, the Financial Times, the Economist and Forbes.

The Seminar is free, however registration is essential for catering purposes.  

CPD points may apply in relevant cases.

Register via or contact


Melbourne Boston Sister Cities Fellowship Now Open

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Study in Boston with the MBSCA Hugh Rogers Fellowship

The Melbourne Boston Sister Cities Association Inc (MBSCA) is taking applications for The Hugh Rogers Fellowships until Friday, 8 August. Awarding up to $20,000 to an Australian with a connection to Melbourne for study in Boston, the areas of focus are education, healthcare and medical research, or arts and culture.  For more information please see the MBSCA website:


AAA Ltd. Membership

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