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The International Energy Agency said on Tuesday that global coal demand is expected to remain stable
through 2024 as growth in Asia offset weak demand in Europe and the United States.
Over the past two weeks, negotiators from more than 190 countries have met in Madrid to try to work out rules that meet the 2015 Paris climate agreement, which calls for the de facto end
of coal-fired power generation by 2050.
Despite the growth of low-carbon fuels in recent decades, the reality is that coal remains the dominant fuel
in the global energy market, the IEA said.
World coal consumption today is 65%
higher than it was in 2000.
World coal demand is expected to grow at a compound annual growth rate of 0.
5% by 2024 to reach 5.
624 billion tonnes of standard coal
by 2024, according to the IEA.
However, the decline in coal consumption in Europe and the United States will be offset
by growth in some fast-growing Asian economies due to Europe's rapid phase-out of coal-fired power generation programs and increased use of natural gas in the United States.
India's demand is expected to increase, with demand growing at an annual rate of 4.
2 percent by 2024 to reach 585 million tonnes of standard coal
by 2024, the IEA said.
In addition, China's coal consumption is expected to increase slightly in the coming years, reaching a stable level
around 2022.
Keisuke Sadamori, head of the IEA's energy markets and security department, told Reuters that the exact evolution of China's demand largely depends on the country's five-year plan
covering 2021-2025.
The IEA's report shapes the expectations
of governments, companies and investors regarding the outlook for coal, oil and gas use.
But the agency has also been criticized by green groups and some financial institutions for underestimating how quickly
the world is shifting to renewable energy.
The International Energy Agency said on Tuesday that global coal demand is expected to remain stable
through 2024 as growth in Asia offset weak demand in Europe and the United States.
Over the past two weeks, negotiators from more than 190 countries have met in Madrid to try to work out rules that meet the 2015 Paris climate agreement, which calls for the de facto end
of coal-fired power generation by 2050.
Despite the growth of low-carbon fuels in recent decades, the reality is that coal remains the dominant fuel
in the global energy market, the IEA said.
World coal consumption today is 65%
higher than it was in 2000.
World coal demand is expected to grow at a compound annual growth rate of 0.
5% by 2024 to reach 5.
624 billion tonnes of standard coal
by 2024, according to the IEA.
However, the decline in coal consumption in Europe and the United States will be offset
by growth in some fast-growing Asian economies due to Europe's rapid phase-out of coal-fired power generation programs and increased use of natural gas in the United States.
India's demand is expected to increase, with demand growing at an annual rate of 4.
2 percent by 2024 to reach 585 million tonnes of standard coal
by 2024, the IEA said.
In addition, China's coal consumption is expected to increase slightly in the coming years, reaching a stable level
around 2022.
Keisuke Sadamori, head of the IEA's energy markets and security department, told Reuters that the exact evolution of China's demand largely depends on the country's five-year plan
covering 2021-2025.
The IEA's report shapes the expectations
of governments, companies and investors regarding the outlook for coal, oil and gas use.
But the agency has also been criticized by green groups and some financial institutions for underestimating how quickly
the world is shifting to renewable energy.
