Siemens: we will be in fossil fuels ‘for the really long-term’

Coal still key to future growth despite strong focus on renewables, says company

One of the worlds leading industrial multinationals has said it will be investing in fossil fuels for the really long-term, despite commitments to green technologies including renewable energy and energy efficiency.

The declaration by Siemens, made on the fringes of Climate Week in New York, highlights the competing imperatives of fossil fuel investment and decarbonisation efforts, and comes even as investors announced $200bn (£123bn) for clean technology as one of the key achievements of the week.

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