Phase out Coal: Former Unilever CEO

Phase out Coal: Former Unilever CEO

The former CEO of consumer goods giant Unilever (NYSE:UL) has said it was"disappointing" that the Glasgow Climate Pact's language on coal was watered down, but expressed hope that it will be firmed up at the COP27 and COP28 summits in Egypt and the United Arab Emirates. Paul Polman appeared philosophical about the deal agreed at COP26, in which India and China insisted on a last-minute change of fossil fuel language — from a 'phase-out' of coal to a 'phase-down.' It was 'disappointing that we had to water down the wording on coal to … phase down,' he said, 'But I believe that the direction again once more is set and that we will accelerate. If that is the compromise in the interim, hopefully in Egypt or in Abu Dhabi we'll have phase out — there's no other choice. "We have to, it would be stupid not to," Polman went on to state, before taking aim at Australia, a country where coal still plays an important role. 'Australia has to realize that as well: 56% coal, still, in that country, is unsustainable,' he said. 'One of the highest emissions per capita in the world, it's unsustainable.' 'And for the prime minister