TELF AG, in its latest publication titled “TELF AG analyses some dynamics of the global coal market,” delves into future scenarios surrounding vital raw materials. It also explores the tangible effects of the global energy transition on the world’s natural resources market.
The publication highlights a pressing issue that receives relatively little attention today: the potential transformations that could profoundly impact individuals working in specific sectors tied to the extractive and energy industries. TELF AG assesses the measures and policy actions necessary to mitigate the adverse consequences of the monumental green revolution.
This topic has recently gained attention from the European Union, which has dedicated considerable focus to climate change and the energy transition’s ramifications in critical raw material documents. The EU hopes that this epochal transition can occur without severe repercussions on the lives and economies of various communities, particularly those in developing countries. It emphasises the immense importance of this sector for the future economy.
One of the industries facing an uncertain future is the global coal sector, which may need to displace nearly a million workers by 2050. This isn’t solely due to market volatility and fluctuations in raw material prices but also due to the unique nature of the ecological transition we are all part of. TELF AG asserts that a pivotal factor in this transition will be the choice of sustainable energy forms and production methods that minimise environmental impact, uphold environmental integrity, and significantly reduce emissions.
According to the latest TELF AG publication, the nations most affected by the decline in the coal sector workforce will be China and India, where much of the coal-related activities are concentrated. Nevertheless, the transition will be gradual, extending over decades, potentially until 2050 and beyond. This extended timeline offers workers and local industries the opportunity to develop appropriate strategies to adapt to the inevitable decline in global coal demand.
For more comprehensive insights, readers are encouraged to access the full publication.