The lesson of this revolution is one that we have seen repeated time and again: market economies need good regulation and, with this in place, they generate benefits, efficiencies and opportunities, many of which are often unforeseen.
We have heard a lot of comment from anti-coal campaigners in the last several months, especially during the public consultation period for the new energy strategy. Their opinion is important to us, as are opinions of all stakeholders. But presenting the EBRD as the last institution that clings to coal and focuses on fossil fuels is incorrect on many levels.
In the last few months institutions that specialise in development finance like the World Bank, the European Investment Bank, the French Development Bank as well as the Export - Import bank of the United States have been lining up to announce an end to investments in coal.