Record High Global Coal Demand Expected in 2023
Global coal demand is projected to reach a record high of 8.5 billion tons in 2023, driven by strong demand in emerging economies like India and China. While coal use in the United States and the EU is expected to decline, the top three coal producers - China, India, and Indonesia - are increasing production. The International Energy Agency (IEA) predicts a decline in coal use after 2023 due to the expansion of renewable energy sources. However, the pace of renewable energy deployment in key Asian economies will determine the future of coal. The IEA emphasizes the need for greater efforts to meet international climate targets.