Spinning Off Coal Is a Climate Placebo: Elements by Javier Blas

Hello and welcome to Elements, our daily energy and commodities newsletter. Today, Bloomberg Opinion’s Javier Blas takes a look at Teck Resources’ decision to spin off its steelmaking coal business. Meanwhile, investors have snapped up all available shares in Adnoc Gas’s $2 billion IPO, and Brazil is halting beef exports to China. If you haven’t yet signed up to get Elements sent to your inbox, you can do that here.

Today’s Take: Coal’s Greenwash

Take a measure of clever bankers and lawyers. Add a dash of sky-high coal prices. Mix them up with a mining company trying to burnish its green credentials.

The resulting cocktail would taste very ...