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International Energy Agency Iea

All articles tagged with #international energy agency iea

energy2 years ago•1 min saved

Record-breaking global coal demand projected for 2023

The International Energy Agency (IEA) predicts that global coal use will reach a record high in 2023, driven by strong demand in emerging and developing economies such as India and China. Coal consumption in India is expected to grow by 8%, while China's usage is projected to increase by 5% due to rising electricity demand and weak hydropower output. However, coal use is set to decline by around 20% in the European Union and the United States. The IEA suggests that coal consumption will not start to decline until 2026, when the expansion of renewable energy capacity is expected to help lower usage. To meet the goals of the Paris Agreement, the use of unabated coal would need to decrease at a faster rate. China's renewable energy expansion is expected to cause coal demand to fall in 2024 and plateau through 2026. China, India, and Southeast Asia are expected to account for three-quarters of global coal consumption this year, with consumption in Southeast Asia surpassing that of the US and EU in 2023.

via Reuters|

#china #energy #global-coal-use

energy2 years ago•1 min saved

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.

via OilPrice.com|

#climate-targets #emerging-economies #energy

energy2 years ago•2 min saved

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.

via Al Jazeera English|

#emerging-economies #energy #global-coal-use

energyclimate-change2 years ago•2 min saved

IEA Urges Oil and Gas Industry to Rethink Carbon Capture as Climate Solution

The International Energy Agency (IEA) has urged the oil and gas industry to abandon the belief that carbon capture technology is a viable solution to climate change and instead invest more in clean energy. The IEA's Executive Director, Fatih Birol, stated that the industry must face the reality that a successful transition to clean energy requires scaling back oil and gas operations, not expanding them. The IEA report highlights that just 1% of global clean energy investment has come from oil and gas companies, and to limit climate change to 1.5 degrees Celsius, the industry would need to invest 50% of capital expenditures in clean energy projects by 2030. Excessive reliance on carbon capture is seen as a major pitfall in the energy transition, as it would require an inconceivable amount of carbon capture and significant investment.

via CNBC|

#carbon-capture #clean-energy #climate-change

climate-change2 years ago•3 min saved

IEA Warns of Fading Hype and Obstacles in Carbon Capture Tech and Net-Zero Goals

The International Energy Agency (IEA) has released an updated roadmap for achieving zero greenhouse gas emissions by 2050, highlighting that carbon capture technology and carbon credits have not delivered on their promise of removing CO2 from the atmosphere. The report emphasizes that renewables, such as solar and wind power, have made significant progress in reducing emissions and should be prioritized. The IEA also calls for international cooperation and investment in clean energy to avert the worst impacts of the climate crisis. The report underscores the need to stop putting carbon into the atmosphere and focuses on the importance of tripling renewable capacity and doubling energy efficiency by 2030 to stay on track for limiting global warming to 1.5 degrees Celsius.

via Gizmodo|

#carbon-capture-technology #climate-change #emissions-reduction

climate-change2 years ago•3 min saved

The Reality Check: Climate Techno-fixes and the Road to Net Zero

The International Energy Agency (IEA) has updated its road map for combating climate change, emphasizing the need to swiftly transition to renewable energy while minimizing reliance on unproven technologies such as carbon capture and hydrogen fuels. The report highlights that emerging technologies have not lived up to the hype and now play a smaller role in emissions reductions. Hydrogen production is seen as more of a climate problem than a solution, while electric charging infrastructure is growing rapidly. The road map also reduces the projected role of carbon capture technologies. The report underscores the urgency of tripling global renewable power capacity by 2030 and doubling energy efficiency, while the world's wealthiest countries need to reach net-zero emissions ahead of the 2050 target.

via The Verge|

#carbon-capture #climate-change #hydrogen-fuel

energy2 years ago•1 min saved

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.

via CNBC|

#coal-consumption #energy #environmental-impact