The Polish government wants to stop the anti-carbon tsunami. A special fund will take care of our mines

The financial world is grimacing more and more at the sight of investments in which coal plays a major role. Zero carbon dioxide emission becomes a determinant for further contacts. The Polish government does not want to give up coal. The financial foundation of our mining is to be a special fund.

The decision of mBank from a few days ago, from 1 April to cease to finance the construction of new coal mines and coal-fired power units only in the Polish yard may seem revolutionary. But it's enough to slightly poke the nose out of our Vistula reality to see that the world's departure from coal is already standard. Also in business terms.

At the end of last year, a group of over 90 investors published a letter in the Financial Times . In it, they demand from entrepreneurs to take a course without the emission of carbon dioxide, which is the result of burning coal. Investors also wrote that they expect specific deadlines and commitments in the context of a zero-emission economy.

First, the coal began to ban politics.

Such an approach of the world of finance to black gold can not be entirely surprising. After all, decision-makers have been talking ever louder about the necessity of saying goodbye to coal. What's more, lately the words are not over. Last year, the European Commission decided to put the cards on the table.

According to the adopted schedule, the European Union should be neutral to greenhouse gases by 2050 . During this time, 80 percent. electricity is to come from renewable sources.

But you can not talk about any revolution in this case. After all, this position of the European Commission is nothing but confirmation of the course taken a few years earlier under the Paris Agreement .

Polish politicians still prefer coal.

It is not fully known whether it is due to the electoral calendar (in the spring we will choose MEPs and in the autumn we will decide who will sit with us in parliament and Senate benches), or maybe no alternative strategy, but Poland does not intend to say goodbye to coal.

Today, our economy is dependent on black gold in about 77 percent. In the next years, this is going to change. But rather at a snail's pace. Still in 2030 - according to the National Plan for Energy and Climate - our economy is to be based on coal in approx. 60 percent. At the same time, the share of RES in this period is only 21%.

Today, representatives of mines and mining enterprises must feel anxiety. Foreign financial institutions, under the pressure of their own management, are closing their doors more and more often. What is worse, such a tendency is already visible in the home yard. mBank may be one of the first, but certainly not the last one, which will decide on such a step.

Concerns were presented to Deputy Minister of Energy Grzegorz Tobiszowski during a meeting in Katowice with employers associated in the Mining Chamber of Industry and Commerce.

It's a question of ideological approach to the subject. We can not count on foreign banks - said the deputy minister.

A special fund will be created to rescue.

On the eve of the election decisions, no warnings from the mining industry are underestimated. Especially in Katowice, where even the only theoretical subject of closing mines is so controversial that it is better not to take it at all. Suffice it to recall the reactions to the words of the leader of the new political group, who suggested that in a dozen or so years, all mines would have to be closed.

Thus, it was known that the deputy minister Tobiszowski would not leave the industry alone. And in fact - he announced that with a view to defending our mining sector, a special fund should be created, modeled on the so-called green investments. Only in this case, money instead of saving the environment will be spent on its further destruction. Because whether we like it, whether this effect has further extraction and burning of coal.

Interviews with PKO BP and Pekao SA

At the beginning, the energy ministry about the coal fund is to talk with the Ministry of Investment and Development and the Ministry of Enterprise and Technology. As admitted by Deputy Minister Tobiszowski, it is still too early to give details. The relevant mechanisms are only being determined. Like the budget itself. It is known that the fund has any chance of success, as long as it complies with EU law, which is not always so obvious.

It is possible that the fund for the rescue of Polish coal will be co-created by one of the largest banks in our country: PKO Bank Polski and Pekao SA. The meeting with them was confirmed by Deputy Minister Tobiszowski.



The Polish government wants to stop the anti-carbon tsunami. A special fund will take care of our mines

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