Net zero ambitions may devalue Australian coal

The Reserve Bank of Australia is weighing in on the net zero debate as Australia has large amounts of coal and natural gas but it may be devalued, according to Sky News Business Editor Ross Greenwood.

Coal prices are at record high but China is one of the few countries willing to buy it and Australia is considering ceasing mining.

Companies are also considering what their assets prices would look like if fossil fuels are removed and this impacts banks who may be financing them.

Companies who sell fossil fuels understand the assets which may be valued highly at present may become worthless or redundant as the world heads toward carbon neutrality.

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