Peabody Energy Chairman And CEO Delivers China Development Forum Address On Economic, Environmental Benefits Of 21st Century Coal

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Apr 02, 2013, 09:14 ET

ST. LOUIS, April 2, 2013 /PRNewswire/ -- In an address to the China Development Forum Economic Summit in Beijing, Peabody Energy Chairman and CEO Gregory H. Boyce shared his views on how 21^st Century Coal can advance China's energy, economic and environmental objectives.

"As China's unprecedented urbanization continues, coal provides the holistic path that the nation needs to provide abundant, affordable energy that drives social and economic progress while meeting the nation's environmental goals," said Boyce.

The concept of 21^st Century Coal was introduced by the governments of China and the United States in 2009 to advance the development of clean energy solutions from coal. Requested to provide his personal insights and policy recommendations related to China's development, Boyce made three key recommendations on how China can achieve its economic and environmental objectives through greater use of 21^st Century Coal by:

Continuing to assert its right to drive economic and social development, and the betterment of the lives of its people, through the use of the country's abundant coal resources.
Following the model proven in the U.S. for solving urban air quality challenges, by increasing the intensity of efforts to deploy modern emissions control technology in China's coal-fueled generation fleet.
Adopting the principles of 21st Century Coal by implementing the highest standards for worker safety, resource recovery, land restoration and water use in its mining sector.

Peabody's contribution on 21st Century Coal was included in the China Development Research Foundation's Energy & Environment Initiative, a report prepared by several multinational companies which was submitted last week to Chinese Premier Li Keqiang.

"China currently stands at a defining moment," said Boyce. "As unprecedented urbanization continues, the leaders of this great nation recognize that continued development must be matched by care in air and water quality."

"I applaud China for taking a comprehensive approach to energy policy − one that advances energy access, economic growth and environmental protection. In the decades ahead, China is positioned to once again lead the world in providing the global blueprint for building a sustainable energy future built on 21^st Century Coal."

Peabody Energy is the world's largest private-sector coal company and a global leader in sustainable mining and clean coal solutions. The company serves metallurgical and thermal coal customers in more than 25 countries on six continents.

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SOURCE Peabody Energy