Monday 31 July 2023

‘Global coal consumption at record high level’

Global coal consumption is at an all-time high as demand in Asia outpaces the decline in Europe and the US, says a new report by the International Energy Agency (IEA).

The Coal Market Update finds that global coal demand is estimated to have grown by about 1.5% in the first half of 2023, to a total of about 4.7 billion tonnes.

It indicates that China, India and Southeast Asian countries are expected to account for three out of every four tonnes of coal consumed worldwide this year.

Demand from China and India grew by more than 5% during the first half of 2023.

The report says that in the EU, growth in coal demand was minimal in 2022 - a temporary spike in coal-fired power generation was almost offset by lower use in industry.

European coal use is expected to fall sharply this year as renewables expand, and as nuclear and hydropower partially recover from their recent slumps.

IEA Director of Energy Markets and Security, Keisuke Sadamori, said: "Coal is the largest single source of carbon emissions from the energy sector, and in Europe and the United States, the growth of clean energy has put coal use into structural decline. But demand remains stubbornly high in Asia.

“We need greater policy efforts and investments - backed by stronger international cooperation – to drive a massive surge in clean energy and energy efficiency to reduce coal demand in economies where energy needs are growing fast."