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IEA Report – DW – 12/18/2024

According to the International Energy Agency (IEA), global coal consumption is projected to reach a record high in 2024, despite ongoing calls to phase out the highly polluting fossil fuel.

IEA’s Coal 2024 reportReleased on Wednesday, it estimates coal demand will exceed 8.9 billion tonnes this year, the third consecutive annual record, and peak in 2027.

The report said there has been a “strong rebound” in coal use after a decline during the Covid pandemic.

It comes as this year is set to be the hottest in recorded history, according to the European Union’s climate monitor Copernicus.

Scientists have repeatedly called for the urgent need to drastically reduce greenhouse gas emissions to curb climate change and prevent catastrophic consequences for the planet and its inhabitants.

Chinese coal demand is about to reach record high

China remains the largest global coal consumer, accounting for more than a third of the world’s coal use.

In 2024, Chinese coal demand is expected to reach a record 4.9 billion tons, driven by the country’s growing electricity needs and heavy reliance on coal-fired power plants.

Despite significant investment in renewable energy such as solar and wind, China’s coal consumption remains quite high.

Emerging economies such as India and Indonesia are also contributing to growth in coal use, offsetting declines in advanced economies such as the European Union and the United States.

Asia continues to dominate global coal trade, with countries such as Turkey overtaking the EU in import volumes, while Europe’s dependence on coal has declined.

attempt to move away from the coal butterfly

Last year, the IEA predicted that coal demand would peak in 2023. It has now been revised to predict a peak in 2027 based on China’s future consumption patterns.

“Our models project global demand for coal out to 2027 even as electricity consumption continues to grow rapidly,” said Keisuke Sadamori, the IEA’s director of energy markets and security.

It comes as efforts to transition away from coal have faltered as nations failed to cement their commitment to phase out fossil fuels at COP29 in Azerbaijan.

In the US, the imminent return of Donald Trump – who has repeatedly called climate change a “hoax” – to the presidency has also raised fears that climate goals and commitments could be weakened.

China’s contradictory energy policy

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ss/lo (AFP, IEA)

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