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Coal is one of the world’s biggest polluters, with its transportation, storage and usage accounting for around 40% of the world’s greenhouse gas emissions, according to the United Nations.

One executive who says she wants to help reduce the Asia-Pacific region’s dependence on the fossil fuel is Somruedee Chaimongkol, chief executive of energy firm Banpu Public Company. The company has operated coal mines in Thailand for almost four decades.

Sometimes known as Asia’s “first lady of coal,” Chaimongkol became CEO of the company since 2015 and established what she called a “greener, smarter” business plan for the firm the following year.

“Since 2010, we talk about transformation. And since 2015, when I succeed my predecessor as CEO, we start to implement on the greener, smarter [plan]. For the past five years, we spent $2 billion and 90% of [that went on] … a greener investment, such as gas, such as renewable energy, and energy technology,” Chaimongkol told CNBC’s “Managing Asia: Sustainable Future.”

“[There are] a lot of mega trends happening — digitalization, decarbonization, decentralization — and that sped up Banpu to produce a new, greener, smarter strategy,” she added.

Founded in 1983, Thailand’s Ban Pu Coal Company Limited began its operations in the country’s northern Lamphun Province and listed on the Thai stock exchange six years later. In 1993, it took on its current trading name, and in the following years expanded into other parts of Southeast Asia and China.

Last year it established Banpu Next, which encompasses its energy technology businesses including electric vehicles, renewable energy plants and electric ferries.

Banpu’s 2020 annual report indicates that coal accounted for more than 95% of Banpu Public Company Ltd’s revenue in 2020, a figure more or less in line with 2019. The same annual report shows that including the company’s overseas subsidiaries, coal accounted for more than 80% of total revenue.

The company has been buying up natural gas assets in the United States for the last several years.

In March, the firm said it wants to make half of its earnings from “green” energy by 2025.

“We are adding more rapidly on the renewable generation in Japan, Vietnam and in China … And we have set up Banpu Energy Australia,” Chaimongkol said.

Electric vehicles

The company also wants to create an energy “ecosystem” within Banpu NEXT, covering everything from energy creation and storage, to distribution and building charging stations for EVs. Chaimongkol said the division can generate “significant” revenue by 2025.

“Under Banpu NEXT, currently the major revenue contribution is still from energy generation from solar farm and wind farm. Going forward, we will scale up on … [the] energy technology,” she explained.

One aspect of the new system is a tech platform that helps to manage fleets of electric three-wheel taxis known as tuk-tuks, as well as four-wheel vans. “What we are selling to our customer is selling the platform, selling the solution, managing … a fleet [and providing] … e-charging station[s],” Chaimongkol explained. In November, Banpu NEXT launched an electric powered ferry that will operate rides for tourists around the Thai island of Phuket, and in March it invested in Urban Mobility Tech Co (UMT), an EV ride-sharing company based in Bangkok.

A mini electric vehicle from Banpu Next in Bangkok on February 26, 2021.
Romeo Gacad | AFP | Getty Images

Will Banpu ever exit coal mining altogether? Not in the next five to 10 years, according to Chaimongkol, as there will still be a demand from customers for it. But the company won’t invest in new coal assets, she said, adding it will instead be pumping money into renewable energy and in doing so reducing the contribution of coal to the firm’s turnover.

Chaimongkol said future business plans would “embed” sustainable policies and gave the impression she’d like to move away from her “first lady of coal” nickname. “Right now, Banpu is transforming and … our direction is towards a greener, smarter [plan]. But if [we] talk about leading the company, I would say Banpu is an energy company,” she stated. Her leadership is about making sure managers of the firm’s four divisions — minerals, gas production, conventional coal-fired power and Banpu NEXT — can focus on the “greener” strategy, she added.

Banpu has been selected as a member of the Dow Jones Sustainability Indices benchmark for seven consecutive years, which Chaimongkol hopes will appeal to investors. Companies are chosen following an assessment of ESG (environmental, social and governance) criteria.

“I hope that investor[s] will see this strong … commitment [to] being a conscious company. I hope that it will reflect in the value of the company going forward,” she said.

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Mercedes-Benz unveils the new CLA Shooting Brake EV with impressive range

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Mercedes-Benz unveils the new CLA Shooting Brake EV with impressive range

The new CLA Shooting Brake is the first electric Mercedes vehicle available as an estate. It’s more spacious, more capable, and more high-tech than ever.

Meet the new Mercedes CLA Shooting Brake EV

Mercedes introduced the new CLA Shooting Brake on Tuesday, its first electric estate car. The Shooting Brake arrives as the second EV from the luxury brand’s new entry-level family of vehicles.

The electric wagon takes the best of the new CLA, which was revealed just a few weeks ago, and adds more space and capability.

It’s also bigger than the current CLA Shooting Brake, offering a more spacious interior. The new EV measures 4,723 mm in length, or 35 mm longer than the outgoing model.

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With an extended wheelbase of 2,790 mm (+61 mm), the electric version offers 14 mm more headroom and 11 mm more legroom in the front. Rear passengers gain 7 mm of headroom but lose 6 mm of legroom compared to the current model.

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Mercedes-Benz CLA Shooting Brake models (Source: Mercedes-Benz)

Boot space is 455 L, which is 50 L more than the CLA sedan, but 30 L less than the outgoing Shooting Brake. However, it does include an added Frunk (front trunk) for an extra 101 L of storage space.

With all seats folded, overall storage space is 1,290 L. It also comes with standard roof rails, which Mercedes claims can easily fit surfboards or bicycles with a 75 kg (165 lbs) load capacity.

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Mercedes-Benz CLA Shooting Brake with EQ Technology (Source: Mercedes-Benz)

Inside, the new Shooting Brake is nearly identical to the CLA Sedan. It features the new Mercedes-Benz Operating System (MB.OS) with its fourth-gen infotainment.

The setup includes a 14″ infotainment and 10.25″ driver display screens. An extra 14″ passenger screen is available. A trim piece with star-pattern graphics replaces it if not. All three screens are powered by the latest-gen chips and graphics from Unity Game Engine.

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Mercedes-Benz CLA Shooting Brake EV interior (Source: Mercedes-Benz)

Powered by the new Mercedes-Benz Modular Architecture and an 85 kWh battery, the new Shooting Brake EV offers up to 473 miles (761 km) WLTP range.

It will be available in single and dual-motor powertrains. The base CLA 250+ Shooting Brake has 268 hp (200 kW) output and a WLTP range of up to 473 miles (761 km). Meanwhile, the dual-motor CLA 350 4MATIC Shooting Brake has combined 349 hp (260 kW) and a range of up to 454 miles (730 km).

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Mercedes-Benz CLA Shooting Brake EV interior (Source: Mercedes-Benz)

Based on its 800V architecture, the new electric estate can add 193 miles (310 km) WLTP driving range within 10 minutes. Mercedes said that should be plenty to get from Geneva to Milan or Berlin to Hamburg.

Mercedes will introduce new EV variants in early 2026, followed by a 1.5 L hybrid model. Prices will be revealed closer to launch, but it’s expected to start slightly higher than the current model. The current CLA Shooting Brake starts at around €40,000 ($46,500) in Europe.

Following the new CLA and CLA Shooting Brake, Mercedes-Benz plans to launch two SUVs. Check back soon for more info on the upcoming lineup.

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U.S. moving fast to secure access to critical minerals to counter China’s dominance of market, Pentagon says

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U.S. moving fast to secure access to critical minerals to counter China's dominance of market, Pentagon says

MP Materials CEO on deal with the Defense Department

The Pentagon is taking immediate action to boost critical mineral production in the U.S. and counter China’s dominance of the supply chain for rare earth magnets, a defense official told CNBC on Tuesday.

The Defense Department last week agreed to buy a direct equity stake in MP Materials, which will make the U.S. government the miner’s largest shareholder. MP operates the only rare earth mine in the U.S. located at Mountain Pass, California, and a magnet plant in Forth Worth, Texas.

When asked whether the Pentagon is considering similar investments in other U.S. mining companies, the defense official said it is looking at opportunities to strengthen domestic critical mineral production.

“Rebuilding the critical minerals and rare earth magnet sectors of the U.S. industrial base won’t happen overnight, but DoD is taking immediate action to streamline processes and identify opportunities to strengthen critical minerals production,” official said in a statement.

Rare earths are used in weapons such as the F-35 warplane, drones and submarines among other other military platforms. The U.S. was almost entirely dependent on foreign countries for rare earths in 2023, with China representing about 70% of imports, according to the U.S. Geological Survey.

MP Materials CEO James Litinsky told CNBC last week that he views the public-private partnership with the Defense Department as a model for other companies in industries that are important for national security but struggle to compete against the state-backed enterprises in China.

“I’d like to think that this is sort of the first, it’s a model,” Litinsky told CNBC’s “Squawk on the Street” on Thursday. “We have to deliver at MP and show that this is an incredible route to go. But it’s a new way forward to accelerate free markets, to get the supply chain on shore that we want.”

Interior Secretary Doug Burgum said in April that the U.S. government was looking at taking direct equity stakes in critical mineral and rare earth miners to break China’s dominance. The Trump administration is also looking at stockpiling critical minerals and creating a sovereign risk insurance fund to protect companies investments’ in federally approved projects, Burgum said at an energy conference in Oklahoma City.

The Pentagon makes long-term investments in mining, processing and refining critical minerals, the defense official told CNBC. It has invested $540 million so far to support a critical mineral and rare earth supply chain in the U.S. and allied nations, the official said.

“That is significant, and DoD will continue to such efforts in accordance with congressional appropriations and statutory authorities,” the official said.

Catch up on the latest energy news from CNBC Pro:

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Crypto super PAC Fairshake reports $141 million war chest

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Crypto super PAC Fairshake reports 1 million war chest

Jakub Porzycki | Nurphoto | Getty Images

Fairshake, the cryptocurrency industry’s most powerful political action committee, announced Tuesday that it now holds more than $141 million in cash on hand, underscoring the sector’s growing influence as Congress takes up landmark legislation this week.

The total, which includes liquid assets like crypto, stock, and cash, reflects a surge of donations from digital asset executives and firms, including a fresh $25 million from Coinbase.

Fairshake and its two affiliated PACs — Defend American Jobs and Protect Progress — have raised $109 million since Election Day in 2024 and $52 million during just the first half of this year.

“We are building an aggressive, targeted strategy for next year to ensure that pro-crypto voices are heard in key races across the country,” said spokesperson Josh Vlasto.

Ethereum succeeded beyond anyone's expectations, says network co-founder Vitalik Buterin at EthCC

The announcement lands in the middle of what lawmakers are calling “Crypto Week” on Capitol Hill, as the House begins deliberations on a trio of long-awaited bills that would define how digital assets are regulated.

The legislation includes the dividing of oversight, setting new stablecoin rules, and a bill banning the creation of a central bank digital currency.

The crypto industry is no longer just lobbying for survival, it is shaping the political landscape. Fairshake saw nearly every candidate it backed in 2024 win their race.

“We stuck to our core strategy from Day 1,” Fairshake previously told CNBC. “We supported pro-crypto candidates and opposed those who played politics with jobs and innovation, and won.”

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How crypto and fintech may perform under the second Trump administration

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