MELBOURNE—Global regulators, banks, and investors are making ideological rather than market-based investment decisions around coal, which will still have solid demand in the coming decades, Australia’s Resources Minister Keith Pitt told Reuters on Thursday.
Pitt’s National Party, a junior member of Prime Minister Scott Morrison’s governing coalition that represents many Australians in coal-producing districts, has refused to support a net-zero carbon emissions target by 2050 for the country, the world’s biggest coal exporter.
