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Energy Agency: Global demand for coal to increase by 2023
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Demand for coal will rise until 2023 as the growth in India and other Asian countries offset declines in Europe and the United States, the International Energy Agency said on Tuesday.
The consumption of coal as fuel is expected to increase by 0.2 percent annually from 5355 million tonnes of coal equivalent in 2018 to 5418 million in 2023, the Paris-based agency said.
The report comes days after some 200 nations agreed on the rules for implementing the historic climate pact, which aims to reduce fossil fuel emissions to keep this century's global warming rate at less than 2 degrees Celsius.
"Despite the great media attention to the exit from coal investment and the removal of it, it turned out that trends in the market resist change," the report said.
Coal remains the second largest energy source in the world after oil and the largest source of electricity.
Global climate goals require more work on the development of carbon capture, storage and exploitation technology that works to extract gas, store underground carbon dioxide or use it in other industries, the agency said.
"Simply say ... in order to achieve the sustainability goals, there will be no future for coal without carbon capture, storage and exploitation technology," said Fatih Birol, executive director of the IAEA.
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