Climate Home: Peabody Energy, the world`s largest private coal miner, has filed for bankruptcy protection in the US.
Worth almost US$20 billion in 2011, the firm`s debts ballooned over the past five years as it expanded while coal prices crashed.
It cited a weak Chinese economy, competition from shale gas and "ongoing regulatory challenges" -- a nod to climate protections -- as factors.
This was a difficult decision, but it is the right path forward for Peabody. We begin today to build a highly successful...