10 Chinese coal producers have joined a UN program to promote the development and deployment of clean coal technologies. The move aims to reduce emissions and environmental pollution. But some analysts believe it will take a while for China to reduce its reliance on coal.
Last year, China consumed 2.7 billion tons of coal.
To combat the negative effects, many domestic coal producers will now collaborate with the UN's Global Compact Program. The companies have adopted a business model stressing 0 emissions and no pollution.
Song Laohu, GN, Shanxi Huangling Mining Group, said, "Clean coal technologies could help us reduce solid waste by nearly 300 thousand tons per year. And our sulfur Dioxide Emissions could also be reduced by 500 tons per year."
The adoption of clean coal technology requires a large mount of capital injection. The high initial costs have caused worries over the feasibility of paying off the investments in the future. But industry insiders belive the technology could accelerate their earnings growth.
Song also said, "Recycling could reduce the company's reliance on railway transportation. So there will be no emissions, no solid waste and no sewage disposals. And our earnings will also be boosted."
Georg Kell, Executive director of UN Global Company, said, "I greatly ........We encourage enterprises....."
The 10 coal producers are China's first group of companies to join the UN's Global Compact Program. They are eligible to use the UN as a platform to cooperate with other world leading enterprises to exchange information on technology and business models.