World coal use to hit record high in 2024: IEA report

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

The IEA's Coal 2024 report, released on Wednesday, projects coal demand will surpass 8.9 billion tons this year, marking a third consecutive annual record, and go on to hit a peak in 2027.

The report said coal usage has "rebounded strongly" after dropping during the Covid pandemic.

This comes when the year is all but certain 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 to reach record high

China remains the largest global coal consumer, responsible for over a third of the world's coal use.

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

Despite significant investments in renewable energy like solar and wind, China's coal consumption remains significantly high.

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

Asia continues to dominate the global coal trade, with countries like Turkey surpassing the EU in import volumes, while Europe's reliance on coal decreases.

Efforts to transition away from coal falter

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

"Our models show global demand for coal plateauing through 2027 even as electricity consumption rises sharply," Keisuke Sadamori, IEA Director of Energy Markets and Security, said.

This comes as efforts to transition away from coal have faltered, as nations failed to strengthen 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 sparked fears that climate goals and commitments may be undermined.

ss/lo (AFP, IEA)