Global coal supply is expected to hit a record high in use in 2023 on the back of increased demand from now with emerging and developing economies. This is according to a report, published by the International Energy Agency (IEA), and cited by Reuters.
This year saw an increase in demand for coal by 1.4 percent, and for the first time the quantities used on a global scale will be more than 8.5 billion metric tons. This comes against the backdrop of forecasts for a reduction in coal production in India (by 8 percent) and in China (by 5 percent) due to the increase in demand for electricity in these countries in the conditions of weak production from hydroelectric centers, the IEA said.
However, in the low union countries and the US, the effect of coal is on track to decrease by 20 years each in 2023, according to the report of the International Energy Agency.
Coal use a global problem is not expected to decline until 2026. Against the backdrop of significant increases in renewable energy capacity, coal consumption should fall by 2.3 percent over the next 3 years compared to its amount in 2023. However, this amount of coal will be, which is expected to be used in 2026, is expected to be significantly more than 8 billion metric tons, the report stated.
To meet the goals of the other Paris climate agreement, before 2015, which limits limiting global warming to no more than 1.5 degrees Celsius compared to pre-industrial levels, the amount of coal must be limited much faster, notes the International Energy Agency.
Illustrative photo by Dominik Vanyi (@dominik_photography).