Climate protests accompany RWE鈥檚 shareholder meeting
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Climate activists called for a swift end to coal-fired power generation at power plant operator RWE鈥檚 annual general meeting. Members of the Fridays for Future student protest movement blocked an underground station near the shareholder meeting in the western German city of Essen,聽. 鈥淔ridays for Future lifts a topic onto the agenda loud and clear, and thus puts it on everybody鈥檚 radar,鈥 RWE CEO Rolf Martin Schmitz told his company鈥檚 shareholders, according to the transcript of his his speech,聽. But he also lamented that many debates neglected what was really feasible. 鈥淎 competition for the most radical demand or the most sweeping ban does more damage than good,鈥 he warned. 鈥淭hat scares many people, which results in resistance and defensiveness.鈥
搁奥贰听announced earlier this week聽that it had cancelled plans for new coal-fired power plants and will focus on renewables. This spring鈥檚聽report from Germany鈥檚 coal commission聽recommended that Germany phase out coal entirely by 2038, and coal plant operators demand compensation payments from the government, which still have to be negotiated. RWE 肠辞尘辫濒别迟别蝉听a planned asset swap聽with utility聽E.ON聽this year, which will transform the utility into 鈥渙ne of the world鈥檚 leading renewable energy players,鈥 according to Schmitz.