World Transitions: Coal Game and Timbers Rest

world transitions: Timbers rest in a hill of coal mining debris at the Prince Mine in Point Aconi, N.S. on Nov. 22, 2001, according to The Toronto Star. Canada's export development bank is getting entirely out of the coal game but will continue to fund the oil and gas sector as the world transitions towards cleaner sources of energy. Export Development Canada's new climate-change policy means the agency that helps Canadian companies with capital to expand their businesses internationally will no longer provide any funding for anything to do with thermal coal, such as supplying equipment to coal-fired power plants or coal mines. ANDREW VAUGHAN / THE CANADIAN PRESS Thermal coal is the type burned to create electricity and is distinct from metallurgical coal, used to make steel. That all changed Monday, after a regular review of the policy completed last year. The agency reduced its support for thermal-coal projects in 2017 following advice from the Organization for Economic Co-operation and Development but continued to fund certain projects in developing countries, arguing that sometimes coal was the cheapest and most efficient means of producing electricity in countries that desperately needed it. (news.financializer.com). As reported in the news.