--- title: As coal shares tumble, Morrison can't read the writing on the wall description: In the wake of COP26, everyone’s talking about coal. --- [![Greenpeace](https://blog.greenpeace.org.au/hs-fs/hubfs/GPAP-Master-Logo-Green-RGB_Web-1.png?width=2259&height=348&name=GPAP-Master-Logo-Green-RGB_Web-1.png "Greenpeace")](https://www.greenpeace.org.au) [![Canopy Logo](https://blog.greenpeace.org.au/hubfs/raw_assets/public/gpap-main-theme/images/the-canopy/the-canopy-logo.png)](https://blog.greenpeace.org.au/the-canopy) The Canopy is a weekday morning email newsletter provided by the team at Greenpeace Australia Pacific. # As coal shares tumble, Morrison can't read the writing on the wall Tuesday, 16 November 2021 In the wake of COP26, everyone’s talking about coal. World leaders say the Glasgow Climate Pact has sounded coal’s death knell, but Prime Minister Scott Morrison is sticking to his dirty coal guns despite all evidence that coal’s on the way out, including falling share prices. The newly launched First Nations Clean Energy Network wants to ensure that Indigenous communities can share equally in the benefits of Australia’s clean energy transition, including jobs and a reliable energy supply. And while world leaders debate climate policy, back in regional Australia regional councils have been quietly getting on with the job of getting to net-zero within the next decade.  [First Nations people want clean energy say](https://www.sbs.com.au/nitv/article/2021/11/16/first-nations-people-want-clean-energy-say)Indigenous communities forced to rely on dirty, expensive and unreliable power are demanding a seat at the table to ensure Australia's renewables boom works for them. [Coal stocks lose ground after COP26 deal](http://link.newsletter.meltwater.com/ls/click?upn=76fKcEeh4PVItpSA9Cs-2FOEMGnd77r-2F-2FG-2BxtUbsljffpOmNl6jT-2BkMchtskQWQbf-2Bjq05Yvir-2FGufDy8WoRacibN4H5aosWUnluGzblbtn-2Bh5h8gm7rWIKx4qxFvk8yc3lKuK9Ei0fyZJxGoRH2uY3J-2B7J9NXOBML8RnjCPz9BTAf-2B7YHmgTcCzgQWLl1NUNFCLEYFgldU8M-2FhU4yHyI8PJonzZ-2BYnj72J2xxp6SDW6vNQIbS3UsLuwbZ4x3FjxvI7eT4mksHLF36-2Bmk3oIvalUhSDe4ozsIwuo5dHrPWbYIcw8Dw6-2BWYYbJl-2F9wW1HeGxbmiVehoEXW-2BjFpf60sV6S9cfnHrd1rF9JM8rEoWEV9-2BP0a2Rh6QyC36mPSbryeTEXk1nosyLj8qa3PVfqyv5lyh8qkCJLlQOfPMK-2FYBM-2FfAeoF-2F26aetAgjGaDVaNaZda-2Bcfgwps-2Ba-2BjAE5ITt5-2Bg5ysh9anRZwMyJGBA8kQ-2FK5CUrGrQdfpIAPwvMF0kyvm4OH1ViXQ0Bs0OLUHqdOgjB9kU1QXC-2BpGzYg7E79-2Bjr4hYs1lKEfMX-2Bs3g3mM9g0-2B3Mft-2Bv7WxmWhKUAFQqI2blhjJJ-2BGmRqGwQQR8Go49xdDuuRjRg8UCaWMGs8zB2b4mg7EpzFW9W0qL1OCh3iyzz6ONb578fFI4PnIQFk2zV3dewrwuRMKDgPUclxw03DqlTfRo1nEc56NO-2FtTf6qfMrScH0oTzOmdDSALkoCDb1yOsqQ-2BGHOrm2DUeMSGxZAsOuR_phcJM9ByNNX6Qh3ejjqXmun6IAaDhqC7v9tBWdyDVwHBJNIpiovf9GVZzDamNCgxfLw27GXvnBPsL7GgH8wMQAj-2BXWzRAV-2BbPV3Z9b-2Bpaj0jyPEx-2BvWQAoyPax521CyI-2B6vTk6kOblC3JIxVVMC9N-2BvOWgOw2TZp-2FZNiT4kj6lmZUhFmPruIcKmxQXjdEv7q5bw8l85YfFuyjbarZbTPxf9n2Xn63hocG-2F6IRNDGwwIaL7W1jaAFlJniQ4DFyJrouYTaK8AKleVCVRgitOEF9tUvOTVsRbe8i60Gk-2Frr33Bi53X3hmzwh7ZVx3C4qbFw9Ve7GHgD4C6WrD258ErP4utAAbwwMMwoU-2BB6rSbwNRtLKYnK3IQ-2B7mnC-2BGd0B-2FimLHlAETk31AQ4QsHzoEugWw-3D-3D)An international agreement to reduce coal use has seen mining share prices fall, but tight supply of the commodity provided a floor for a sector that has chalked up huge gains this year. [Regional councils say 'it's about leadership' in leaping ahead to net zero emissions](http://link.newsletter.meltwater.com/ls/click?upn=76fKcEeh4PVItpSA9Cs-2FOEMGnd77r-2F-2FG-2BxtUbsljffpOmNl6jT-2BkMchtskQWQbf-2Bjq05Yvir-2FGufDy8WoRaciZY6pLgLYIqawkx1l7u7nOdnPwa-2BnoQ2QvU3K9N4RFapyjwxcjVIt6YjHYtZslrBMl1CPqVedj1k8vDDnG0-2BYLOsVRwHWFqOKkSAERJ7JTXs7BcLJh8FL8v8zVcmbZixcnhgBcSm8d7e-2BLivM7-2Bic2-2BrHmQaGHYh19wyeVu-2BRFuevAXG-2FeocCzbtp92A-2FeOUt9vzdYf1237XXHZke0qYY6-2BFN5JtuxNQ5xmjF-2F-2B2K71kEFYBcOoE6LOaq4uPIWSSs-2F3tbECsoT-2B6sxUx-2BhNrkjU7BneuGMQKgZ7KuymKZ3WRhnWVkXhBMPJDsTJZ9vO0d4-2FQW4Wg7cWzTqYPwNT6uuCk6qC5vilK2dS7top3RaMtsDXb7VW3mGar-2FCb8b52R8qjLu3h1xQUOqmm4HUafGHoHLHrcwg2Be01ztWsUrRtQisuI87ZIvAVGdOFv9BzGeIj7aZH6Ggaz7KCJ5-2F54EDkMHolGmYaejlbODKChr0vXkcddSBSIxED382E1kVxZp7OUrJLe1KMlg9FQfjm6486RzjNSczRcDvFO-2BPbJUMVuKcyssoCNEhyH7IHpAvyAbiLYjoc1wX90kKg5utC8FTKm69kard6B7telk7itYQsj7Lvv4v46R-2FNn8tsbYxvCkvs2gAfqZJEhP-2BE-2BRWl5lDFaz-2FRtnX3tERREk6-2FsCooKhkfhpmwYv-2FxMC-2BeOXfODBkw9qCMvRfLqlxJnU2OitN0-3DGAuE_phcJM9ByNNX6Qh3ejjqXmun6IAaDhqC7v9tBWdyDVwHBJNIpiovf9GVZzDamNCgxfLw27GXvnBPsL7GgH8wMQAj-2BXWzRAV-2BbPV3Z9b-2Bpaj0jyPEx-2BvWQAoyPax521CyI-2B6vTk6kOblC3JIxVVMC9N-2BvOWgOw2TZp-2FZNiT4kj6lmZUhFmPruIcKmxQXjdEv7q5bw8l85YfFuyjbarZbTPxebzfKKKpaZNEsEKz4R5aV2igKkllBv3bBYYfRPLX-2FftAWUu5wLBJo-2ByPuyMq3VLEBLoXrs10ntnQlsqlRwuwS9Him3le-2F3uw840URknjgGAN-2B1wmXYFdQG1B5AAFnkWQskzbCUDW7vLBFsri53o8StL2p5Obv99vswX2lUQSscBj77zRmupzHDbyKtHg1IDGQ-3D-3D)From enormous conference rooms in Glasgow, world leaders have emerged with plans to publish more ambitious 2030 emissions reduction targets by the end of next year. But from regionals council office buildings in Beechworth, Bright, and Shepparton, local governments are already on their way to reaching net zero within the next decade. [Treasury under Labor to model climate change impact on economy and budget](https://www.brisbanetimes.com.au/politics/federal/treasury-under-labor-to-model-climate-change-impact-on-economy-and-budget-20211115-p5992i.html)A Labor government would commission the federal Treasury to model the cost of climate change to the national economy as new details of the government’s own net zero emissions plan show it needs massive new gas fields requiring billions of dollars of investment. [Scott Morrison insist coal has a future despite COP26 agreement](http://link.newsletter.meltwater.com/ls/click?upn=76fKcEeh4PVItpSA9Cs-2FOEMGnd77r-2F-2FG-2BxtUbsljffpy5QYhZSdg-2Bu1kme3NZOjpgUn8VC2l06kHYWQ8Z8oSBFbj4D1dCXLsHDKy3are5Eu2C5DrxjhP7rObvkEy-2BUuRz-2FPo3ceLrPoyksUQC3xrIxhREsYaXrpmXpSH-2Fr1iy1c7W31v95W5rdOfZYelVA9dDb4xIAdOIGMmflZAfGsFEo2b8pKMkeg5qnZRFcyzUeaFBr7Ri4FxBlaXxLJL-2BRSkndU0GGlCYdyd-2B-2BElrMk2hEhhhfnuFOGIi3EGvrnRCoGMwX141SKHRYoNshaeRu5ETgopp57qAidPXtAHSJJfRJgtJpqdqi8yEWnj5BUyELhGbyCJkst5gu26q0rbEt6A40dsfdFLeXmlm1yS6Nom6dI0q4gYAIytbdofNPOFDHGlfOwvwbn8-2FAfy34yiOV3hw61kfIeEnZdiz0-2B-2FsnXN-2BDE0JgwlejGLWPfP72hRLc3wjPJgaurKLgT-2FfUwlM9S-2FHq552j976mWnoQGujx8sTxTMLshLNhO-2Fae9ZeCeuOVYDegb8kq5do3BlfzUbTao-2B-2BDhPyO9UKoG-2BnhaEJibSbUGj4S-2BgqUrPMwHuL66BGw-2FVjfgUoFq96kuxo9pC690b-2Ff-2FZ6zDOE6F7c9ZAywXP-2FkktceY2alZ82wvtiKrjP9LZyWo-2BS6apd2FTxnfj9zSO-2FLSwP2N7UnqoRV8fPYiF8A-3D-3D05Lp_phcJM9ByNNX6Qh3ejjqXmun6IAaDhqC7v9tBWdyDVwHBJNIpiovf9GVZzDamNCgxfLw27GXvnBPsL7GgH8wMQAj-2BXWzRAV-2BbPV3Z9b-2Bpaj0jyPEx-2BvWQAoyPax521CyI-2B6vTk6kOblC3JIxVVMC9N-2BvOWgOw2TZp-2FZNiT4kj6lmZUhFmPruIcKmxQXjdEv7q5bw8l85YfFuyjbarZbTPxUZS39QKIZumcoGDUzYwM3GW3DFO-2FEQkmhinWDMdFT4iKKSo8xxU9-2Bfb4bz-2FpmoIzk-2Bxe1C1zGG1FLzyMuBYwF5yxRB-2Bt4I7yzrzTyVKDFXE-2FS1Qi5AJTDUGQq3jg9RiVDRWTm5B-2FCby6V5GErpaZQ5VqD3w40dLfyZ44Wxpbrxiuz-2FlbR1Wwqvckfzo1yZVhQ-3D-3D)Scott Morrison is at odds with Boris Johnson about the future of coal after the British Prime Minister declared the COP26 climate summit "sounded the death knell" of the fossil fuel. 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