Global Coal Use Expected to Reach All-Time High in 2023: IEA Report

The International Energy Agency (IEA) has projected that global coal use will hit a record high in 2023, surpassing 8.5 billion metric tons for the first time. The demand for coal is anticipated to rise by 1.4% in 2023, with an 8% growth in usage expected in India and a 5% increase in China. This surge is attributed to rising electricity demand and weak hydropower output in these countries.

However, the report notes that coal use in the European Union and the United States is set to drop by around 20% each in 2023. The IEA forecasts a decline in coal consumption beginning in 2026, driven by major expansions in renewable capacity. Nevertheless, global coal consumption is expected to remain above 8 billion metric tons in 2026, posing challenges to meeting Paris Agreement goals.