ST. LOUIS, Oct. 18, 2016 /PRNewswire/ -- Peabody Energy has been named the most responsible global mining company for 2016, recognizing the company's excellence in environmental, social and governance standards and performance.
The honors were given by a panel of international judges as part of the annual awards program by London-based Capital Finance International. The program identifies individuals and companies that demonstrate excellence in the various areas of sustainability. Judges credited Peabody as being a "pioneer in the move toward sustainable business practice" and noted that the company "essentially wrote the book on environmental stewardship for the coal industry."
"Our mission and values are foundational tenets in how we operate, and they guide all of our performance," said Peabody Energy President and Chief Executive Officer Glenn Kellow. "We act in a sustainable manner because it is both good business and the right thing to do, but we are also pleased that such an approach doesn't go unnoticed. Peabody commits to operating safe workplaces, restoring coal mined lands for future generations, engaging constructively with stakeholders to address major energy challenges, and supporting greater deployment of advanced coal and near-zero emissions technologies."
Peabody encourages attention to key standards in the areas of sustainable mining, energy access and clean coal solutions – what the company refers to as "Coal Done Right." The core components are embedded in Peabody's culture and outlined in its advancement of Investment Principles for Best-in-Class Coal Companies, which can be found within the company's Corporate and Social Responsibility Report.
Safety, Peabody's first value, is integrated into all areas of the business and requires constant care and vigilance. The company has a robust safety and health management system and continues to work toward its vision of zero safety incidents of any kind.
Sustainability is also a core value, and the company maintains immense respect and responsibility for the land and communities where it operates. Peabody led the industry's first land restoration initiatives in the U.S. in the 1950s, nearly a quarter century before the law required it. Over the past decade, the company spent approximately $185 million to restore some 48,000 acres of Peabody lands. The company continues to reclaim coal mined lands contemporaneously to restore lands as quickly as possible and continue a sustainable cycle.
Peabody has long advocated for increased access to low-cost electricity and a technology approach to reduce carbon and other emissions, while investing hundreds of millions of dollars in clean coal projects and partnerships. Emissions progress begins with deployment of high-efficiency, low-emissions technologies that are available today. Peabody believes that longer-term investments in next-generation carbon capture, use and storage technologies are necessary to transition to the ultimate goal of near-zero emissions from coal-fueled power. The company's approach is documented in its Statement on Energy and Climate Change.
CFI provides news, analysis and commentary on the markets worldwide. Reporting from frontlines of economic convergence, CFI realizes that best practice is to be found throughout the world and the awards program aims to identify and reward excellence wherever it is found in the hope to inspire others to further improve their own performance.
Peabody Energy is the world's largest private-sector coal company and a Fortune 500 company. The company serves metallurgical and thermal coal customers in 25 countries on six continents and has earned 130 awards for safety, corporate and environmental excellence in the past five years. For further information, visit PeabodyEnergy.com.
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SOURCE Peabody Energy