Global Coal Demand Reaches Record High in 2023, But Expected to Decline by 2026

Global coal use is projected to reach a record high in 2023, driven by strong demand in emerging and developing economies such as India and China, according to a report by the International Energy Agency (IEA). The report states that coal consumption is expected to rise by 1.4% in 2023, surpassing 8.5 billion tonnes for the first time. However, coal use is set to decline by about 20% this year in both the European Union and the United States. The IEA highlights that the pace of clean energy deployment, weather conditions, and structural shifts in the Chinese economy will significantly impact the future outlook for coal. To meet the goals of the Paris climate agreement, the use of unabated coal would need to decrease at a faster rate.