Global Coal Demand Continues to Soar, Reaching Record Highs

Coal consumption reached a record high of 8.3 billion metric tons in 2022, driven by its availability and relative affordability compared to gas. The International Energy Agency (IEA) reported that coal accounted for 36% of global electricity generation, with demand expected to remain near record levels in 2023. While coal demand declined in the United States and the European Union, China and India experienced growth, offsetting the declines. Coal is considered the dirtiest and most polluting form of energy production, contributing significantly to carbon emissions. The IEA emphasized the need for greater policy efforts and investments in clean energy and energy efficiency to reduce coal demand in rapidly growing economies.