PARIS, Dec. 15 (Xinhua) -- Global coal demand will show a downward trend in the coming years after reaching a record high this year, according to the 2023 coal market report released by the International Energy Agency on the 15th. This is the first time in the report that global coal demand has fallen.
The report expects global coal demand to increase by 14%, exceeding 8.5 billion tonnes for the first time. However, global coal demand in 2026 will still fall by 2.2 percent compared to 2023, driven by a significant expansion of renewable energy capacity, even if countries do not declare and implement stronger clean energy and climate policies3%。In addition, global coal** is expected to shrink as demand declines in the coming years.
More than half of the global renewable energy capacity expansion will occur in China, where coal demand is expected to decline in 2024 and level off in 2026, the report said.
Keisuke Dingshiro, head of the IEA's Energy Markets and Security Division, said the decline in global coal demand this time is different from previous ones, more structural, and driven by the strong and continued expansion of clean energy technologies. A tipping point in coal demand is clearly on the horizon, but more needs to be done to meet global climate goals.
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*:Xinhua.