IEA: Global coal consumption at record level - decline expected from 2024
In China alone, 220 million tons more coal were consumed than in the previous year, which corresponds to an increase of 4.9%. According to the IEA, an increase of eight percent was recorded in India, while consumption in Indonesia rose by eleven percent.
According to the International Energy Agency, coal consumption fell by 23% in Europe and by 21% in the USA. This is primarily due to weaker industrial activity and the shift away from coal-fired power generation in favor of renewable energies.
The IEA expects coal consumption to fall in the coming year. "We expect to see a trend towards falling global demand for coal from 2024," explained the Paris-based agency.
The World Climate Change Conference in Dubai decided on Wednesday to mark the beginning of the end of fossil fuel energy production. After two weeks of negotiations, the almost 200 participating countries agreed for the first time on a text calling for a "transition" away from fossil fuels.
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- Despite the decline expected by the IEA in 2024, coal consumption in the USA is still expected to be at a considerable level, as indicated by the agency's forecasts.
- The record-breaking coal consumption globally, as reported by the IEA, has been primarily driven by an increase in consumption in Asia, with China, India, and Indonesia leading the way.
- From 2024, coal consumption in Europe is expected to show a significant decline, following a 23% decrease in the previous year, according to the IEA's data.
- The USA, despite its expected coal consumption decline, remains one of the major coal consumers in the world, with a decrease of 21% recorded in coal consumption in the previous year, according to the International Energy Agency.
- In comparison to China and India, which recorded an increase of 8% and 11% respectively in coal consumption, Europe has witnessed a decline in coal consumption.
- The International Energy Agency's forecast for a decline in coal consumption from 2024 stems from the global trend towards renewable energy sources and weaker industrial activity.
- In 2024, coal consumption in Asia is anticipated to reach a maximum value, with China and India continuing to play a significant role in driving the region's coal consumption.
- According to the IEA, coal consumption fell significantly in the USA and Europe in the previous year, with an 8% and 23% decrease respectively.
- Indonesia, just like China and India, has seen an increase in coal consumption, with a rise of 11% recorded in the previous year, as per the International Energy Agency's data.
- The IEA's prediction of a decline in global coal consumption from 2024 should lead to a significant reduction in greenhouse gas emissions, playing a crucial role in addressing climate change.
Source: www.stern.de
