Economy & Business

"Bankruptcy Expected for Arch Coal, a Reflection of Industry Woes"

"Arch Coal, the nation's second largest coal company, this week told the Securities and  Exchange Commission that it may join other coal companies in filing for bankruptcy. The company said it may have to seek Chapter 11 relief because of 'extremely challenging current market conditions.'  The company, which is burdened by $5 billion in debt, said it did not see an upturn in sight."

Source: High Country News, 11/11/2015

"Banks Still Fail To Incorporate Climate Risks in Lending, Report Says"

"It's been more than a year since Boston Common Asset Management published a report on the financial sector's response to the climate change crisis. While it may not seem readily apparent how an industry with relatively low emissions from its own operations could be at risk, such a perspective fails to take into account the importance of Scope 3 emissions; specifically, in the case of banks, the emissions from their lending and underwriting portfolios."

Source: GreenBiz, 11/10/2015

"Peabody Energy Agrees to Greater Disclosures of Financial Risks"

"Peabody Energy, the world’s biggest private coal company, has agreed to make more robust disclosures to its investors about the financial risks it faces from future government policies and regulations related to climate change and other environmental issues that could reduce demand for its product."

Source: NY Times, 11/09/2015

Citing Climate, Obama Rejects Construction of Keystone XL Pipeline

"President Obama announced on Friday that he had rejected the request from a Canadian company to build the Keystone XL oil pipeline, ending a seven-year review that had become a symbol of the debate over his climate policies."

Source: NY Times, 11/09/2015

Senators Urge Obama Admin To Include Carbon Costs in Coal Program

"Democratic U.S. senators on Monday urged the Obama administration to reform the federal coal mine program to include costs of the fuel's carbon emissions and potentially raise royalties paid by companies that mine the fuel on public lands."

Source: Reuters, 11/03/2015


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