Peabody applauds Trump’s decision to exit Paris Agreement

Peabody Energy, the world’s largest private coal company, voiced its support Thursday for President Donald Trump’s announcement that the United States would withdraw from the Paris Agreement on climate change.

Trump made the announcement Thursday in an afternoon press conference at the White House, citing concerns about job losses and specifically mentioning coal mining.

St. Louis-based Peabody issued a short statement after the president’s address. It read, in part:

We believe that abiding by the accord, without significant changes, would have substantially impacted the U.S. economy, increased electricity costs and required the power sector to rely on less diverse and more intermittent energy.

The company said it will continue to advocate for greater use of technology like “low emissions coal-fueled power plants and research and development funding for carbon capture.”

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