Global Coal Demand Hits Record in 2024
Despite calls to halt humanity’s burning of the filthiest fossil fuel driving climate change, the energy watchdog expects global demand for coal to hit record highs for the third year in a row.
Published on Wednesday, the IEA’s “Coal 2024” report does however predict the world will hit peak coal in 2027 after topping 8.77 billion tonnes this year.
But that would be dependent on China, which for the past quarter-century has consumed 30 percent more coal than the rest of the world’s countries combined, the IEA said.
China’s waxing demand for electricity was the most significant driving force behind the increase, with more than a third of coal burnt worldwide carbonized in the country’s power plants.
Though Beijing has sought to diversify its electricity sources, including a massive expansion of solar and wind power, the IEA said Chinese coal demand in 2024 will still hit 4.9 billion tonnes — itself another record.
Increasing coal demand in China, as well as in emerging economies such as India and Indonesia, made up for a continued decline in advanced economies.
However, that decline has slowed in the European Union and the United States. Coal use there is set to decline by 12 and five percent respectively, compared with 23 and 17 percent in 2023.
Coal mining also hit unprecedented levels by topping nine billion tonnes in output for the first time, the IEA said, with top producers China, India and Indonesia all posting new production records.
The 2024 report reverses the IEA’s prediction last year that coal use would begin declining after peaking in 2023.
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