Coal in the Global Economy: The Paradox of the 21st Century

Coal remains a trillion-dollar cornerstone of the global economy — but its business model is under pressure. In 2024, coal power hit record highs even as investors poured capital into renewables and carbon-free grids. Economist Roman Bilousov calls this “the paradox of the 21st century”: coal is still vital for growth and stability, yet increasingly incompatible with sustainable finance. The next decade won’t be about abandoning coal, but reinventing it — through carbon capture, hybrid systems, and strategic transition plans. For markets and policymakers alike, the winners will be those who align profitability with the planet’s new energy logic.