Total Withdraws from Coal Production and Marketing
French oil major Total confirmed on Monday that it had stopped all production of coal as of last week after the South African government approved the sale of its coal mining operations there.
"We cannot claim to be providing solutions to climate change while continuing to produce or market coal, the fossil fuel that emits more greenhouse gas than any other," Total Chief Executive Patrick Pouyanne said in a statement.
Pouyanne said in June last year that Total would halt all coal operations. The Paris-based group is one of the European oil majors that signed a letter urging governments around the world to introduce a pricing system for carbon emissions.
The CEO said that in addition to withdrawing from mining the company had also decided to divest its coal marketing operations.
The group marketed 8.5 million tonnes of coal in the international market in 2013, with more than 80 percent coming from South Africa and the majority sold to Asia.
"By end-2016, we will no longer be involved in the coal business," Pouyanne said.
(Reporting by Michel Rose; Editing by James Regan)
