The relationship Between a Business and Important Sustainability Issue: A Review of the Coal Industry
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Executive SummaryThe report looks at how business relates to an important social or environmental issue. Specifically, the coal industry in Australia is discussed with reference to its prominence, effects on the people, communities, and environment, and why it continues to be a key industry in one of the richest nations in the world. Despite the knowledge of the consequences of coal, Australian businesses in the coal sector are still expanding. The report recommends a shift to use of renewable energy sources for the nation, and, in the short-term, the use of technologies that attempt to reduce the number of pollutants and toxic substances in coal.
Table of Contents
TOC o “1-3” h z u Executive Summary PAGEREF _Toc103781487 h 2Background PAGEREF _Toc103781488 h 4Discussion PAGEREF _Toc103781489 h 4Business Practices and Firms Involved PAGEREF _Toc103781490 h 4Why Companies in Coal Mining Continue to be in Business Despite the Negative Consequences PAGEREF _Toc103781491 h 5How Business is Involved in Minimising Coal Reliance PAGEREF _Toc103781492 h 5Conclusion/Recommendations PAGEREF _Toc103781493 h 6References PAGEREF _Toc103781494 h 7
BackgroundCoal has a number of harms associated with it in relation to usage, its mining, production, and long-term use in industrial levels. First, coal is linked to air and water pollution. When coal is burnt, it emits a variety of poisons and pollutants into the air. Lead, particulates, sulfur dioxide, and nitrogen oxides, and a variety of other heavy metals are among these pollutants (Bacon & Nash, 2012). Asthma and breathing issues, brain damage, heart issues, malignancies, neurological diseases, and early death are all possible health consequences (Han et al., 2018). In terms of the environment, coal is also known to be a key contributor to global warming. Climate change is the most serious long-term effect of coal on the whole world. The loss of species, along with droughts, floods, rising sea levels, and severe weather, are all potential outcomes of global warming. The intensity of these repercussions is exactly proportionate to the amount of carbon dioxide that was released into the atmosphere. This includes the emissions that were produced by coal power plants. Coal also has a number of negative social and environmental consequences that it causes for people, communities, and the environment. The majority of coal resources are located somewhat deep down, making it challenging to access them.
DiscussionBusiness Practices and Firms InvolvedThe drive for more coal mining in Australia and elsewhere across the globe demonstrates how vital it is for society to have a conversation about this activity and work out the benefits and drawbacks associated with it. Even though the effects of climate change are getting more severe, Franks, Brereton, & Moran (2010) found that several nations, such as those in Southeast Asia and Australia, are moving through with plans to open up new coal mines. The social (including cultural and political), economic, and environmental contexts in which coal mining occurs each have a significant impact on the variety of consequences that coal mining may have. The manner in which a mine is maintained during its full operational lifetime will have a significant impact on the consequences the mine has on a particular location (planning, development, operation, decommissioning, remediation and rehabilitation) (Marsden et al., 2022). The rest of the world relies heavily on Australia as a supply of fossil fuels, yet Australia is also one of the dirtiest nations in the world per capita. For companies like Glencore, coal is a key resource. Other market leaders with significant effects are the BHP Group Ltd., Yancoal Australia Ltd. Coal continues to be Australia’s primary source of electricity generation, which is unusual for a developed nation. When compared to what they were in 2005, Marsden et al. (2022) assess that Australia’s emissions are expected to have decreased by 26 percent by the year 2030.
Why Companies in Coal Mining Continue to be in Business Despite the Negative ConsequencesGlencore, the BHP Group Ltd., and Yancoal Australia Ltd. are primary players in the coal mining sector. Coal is Australia’s primary source of power generation, accounting for around 80 percent of the country’s total demand for electricity. The production of coke results in the creation of many byproducts, including coke tar, ammonia, lamp oils, and coal gas. Cement, paper, food processing, and refining alumina are all processes that need coal as an ingredient (Blondeel & Van de Graaf, 2018). It is already common knowledge that the Australian economy would suffer severe consequences as a result of climate change if more is not done to reduce reliance on coal. On the other side, businesses like as Glencore, BHP Group Ltd., and Yancoal Australia Ltd. are expanding in order to achieve higher levels of financial success. Coal will continue to play a significant role in Australia’s economy far beyond the year 2030 as a result of rising demand in other parts of the globe. Because coal is the primary source of energy generation in Australia, the country is consistently ranked among the top carbon emitters per capita in the world (Blondeel & Van de Graaf, 2018). However, the country’s conservative government has never wavered in its backing of the fossil fuel industry, arguing that more stringent action on emissions would be detrimental to employment opportunities.
How Business is Involved in Minimising Coal RelianceIn coal mining, the removal of enormous tracts of land is required and this causes damage to mature woodlands. The mining of coal is very destructive to natural ecosystems because it causes pollution of the surrounding land and water, the felling of trees, and the removal of mountain peaks. This might cause harm or even death to animals and plants, which would have a negative impact on the ecosystem. The extraction of coal and the burning of coal both have negative effects on the surrounding ecosystem, and both activities are fraught with peril for the workers involved (Carley & Konisky, 2020). The constant inhalation of harmful gases and the inhalation of poisonous dust puts coal miners at an increased risk for a variety of ailments. With this in mind, companies are devising ways to reduce the effect of coal itself, its usage, the production process, mining, and every process.
The coal industry in many countries throughout the globe has devised a variety of strategies to remove sulfur and other contaminants from coal. In addition, the coal industry has developed more effective methods to clean coal once it has been mined, and a number of consumers have shown a preference for low-sulfur coal (Fouskas et al., 2018). Scrubbers are another name for the equipment that power plants employ to remove sulfur from smoke before it is released from their smokestacks. This equipment is used for flue gas desulfurization. Additionally, the American and Canadian companies and businesses in the coal industry (Peabody Energy Corp, Arch Coal, Alliance Resource Partners, and Teck Resources Ltd) have collaborated on the development of technologies that might improve the energy efficiency of coal or eliminate contaminants that are present in coal (Fouskas et al., 2018). This would result in a lower quantity of coal being burnt to produce a given amount of useable energy (Carley & Konisky, 2020). Universally, companies are also switching to renewable energy sources in order to reduce the reliance on coal and other fossil fuels.
Conclusion/RecommendationsMining has been Australia’s primary economic driver for a significant number of years, and the commodity continues to rank as the nation’s second-largest export behind coal. The only nation that exports more coal to foreign countries than Australia is Indonesia. It has been agreed upon by Japan, South Korea, and China, the three countries that purchase the most coal from Australia, to achieve net zero emissions by the year 2050. Therefore, the coal industry is a diminishing market that will only worsen with time due to the potential consequences on people, society, and the environment. Australia, through its coal industry, must begin to explore alternative energy sources.
ReferencesBacon, W., & Nash, C. (2012). Playing the media game: The relative (in) visibility of coal industry interests in media reporting of coal as a climate change issue in Australia. Journalism studies, 13(2), 243-258.
Blondeel, M., & Van de Graaf, T. (2018). Toward a global coal mining moratorium? A comparative analysis of coal mining policies in the USA, China, India and Australia. Climatic Change, 150(1), 89-101.
Carley, S., & Konisky, D. M. (2020). The justice and equity implications of the clean energy transition. Nature Energy, 5(8), 569-577.
Franks, D. M., Brereton, D., & Moran, C. J. (2010). Managing the cumulative impacts of coal mining on regional communities and environments in Australia. Impact Assessment and Project Appraisal, 28(4), 299-312.
Fouskas, F., Ma, L., Engle, M. A., Ruppert, L., Geboy, N. J., & Costa, M. A. (2018). Cadmium isotope fractionation during coal combustion: Insights from two US coal-fired power plants. Applied Geochemistry, 96, 100-112.
Han, S., Chen, H., Harvey, M. A., Stemn, E., & Cliff, D. (2018). Focusing on coal workers’ lung diseases: a comparative analysis of China, Australia, and the United States. International Journal of Environmental Research and Public Health, 15(11), 2565.
Marsden, H., Basu, S., Striolo, A., & MacGregor, M. (2022). Advances of nanotechnologies for hydraulic fracturing of coal seam gas reservoirs: potential applications and some limitations in Australia. International Journal of Coal Science & Technology, 9(1), 1-18.