Despite advocating green energy, the West saw a 14 percent surge in coal use in 2021 mainly for power generation. Sanctions on Russia and global market disruptions have also increased dependence on coal, especially in the EU.
This is the first time that the report has predicted a drop in global coal consumption. Around 40 per cent of global carbon dioxide emissions stem from coal, while oil and gas contribute to the remaining percentage.
The projected decline in global demand for coal - which is currently the largest energy source for electricity generation, steelmaking and cement production, but also the largest source of carbon dioxide (Co2) emissions from human activity - could mark a historic turning point, the IEA said.
The likely fall in coal demand is significant in view of the UAE Consensus agreed upon by nearly 200 countries at COP28 in Dubai on December 13. | Latest News India
At the annual UN climate conference in Dubai, nearly 200 countries clinched a breakthrough deal which calls for the world transition away from all fossil fuels, the primary reason for the climate crisis, in a fair and equitable way. Though the 21-page cover decision urged countries to accelerate efforts to phase down unabated coal power, it did not explicitly mention oil and gas.