World’s biggest coal export port to go for renewable energy

Australia’s city of Newcastle, which claims to be the world’s biggest coal export port, said it is pulling money out of fossil fuel industries and investing in more sustainable enterprises. Newcastle City Council, which manages a Aus$268 million (US$191 million) investment fund for Australia’s 7th largest city, voted to move progressively toward “environmentally and socially responsible investments.” Councilor Declan Clausen said, “Coal exports are going to continue…but we’ll also be focusing our investment away from really large, new, environmentally damaging resource projects towards things that are more sustainable in line with the changing expectations of the broader community.” Newcastle, 170 kilometers (106 miles) north of Sydney, is one of the biggest councils in Australia to vote to divest from carbon-heavy industries.

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