International Energy Agency: Global coal use will hit a record high this year, exceeding 8.5 billion tons for the first time

Global coal use is expected to reach a record high in 2023 as demand from emerging markets and developing economies remains strong, the International Energy Agency (IEA) said in a report on Friday.The International Energy Agency said that global coal demand is expected to grow by 1.4% in 2023, exceeding 8.5 billion tons for the first time.

Global coal use is not expected to fall until 2026, and even without stronger clean energy policies, a massive expansion of renewable energy capacity over the next three years will push coal use down 2.3% from 2023 levels, the IEA said.

However, the report said that global consumption is expected to remain above 8 billion tons by 2026. The report adds that achieving the goals set out in the Paris Agreement will require a significantly accelerated rate of decline in coal use.