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

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🗞️ Driving the news: The International Energy Agency (IEA) reports that global coal consumption is projected to reach a record high of over 8.9 billion tons in 2024, marking the third consecutive annual increase
• China remains the largest consumer, accounting for over a third of global coal use, with demand expected to hit 4.9 billion tons in 2024
• Emerging economies like India and Indonesia are also contributing to the surge, offsetting declines in advanced economies such as the European Union and the United States

🔭 The context: Despite significant investments in renewable energy, coal consumption continues to rise, driven by increasing electricity needs in developing countries
• The IEA's revised forecast now predicts coal demand peaking in 2027, delayed from an earlier projection of 2023
• Efforts to transition away from coal have faltered, with recent international climate negotiations failing to strengthen commitments to phase out fossil fuels

🌍 Why it matters for the planet: The continued reliance on coal, a major source of greenhouse gas emissions, poses significant challenges to global climate goals
• 2024 is on track to be the hottest year in recorded history, underscoring the urgent need to reduce emissions
• Persistent coal use undermines efforts to mitigate climate change and prevent catastrophic environmental consequences

⏭️ What's next: The IEA emphasizes the need for stronger policies and investments in clean energy to curb coal demand and achieve climate targets
• Without decisive action, global coal consumption is expected to plateau at high levels through 2027, hindering progress toward sustainable energy transitions

💬 One quote: "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

📈 One stat: In 2024, Chinese coal demand is expected to reach a record 4.9 billion tons, maintaining its position as the world's largest coal consumer

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