After reaching an all-time high this year, global coal demand is expected to decline by 2026 due to a major expansion of renewables, according to the latest edition of the International Energy Agency’s (IEA) annual coal market report.
This is the first time that the report has predicted a drop in global coal consumption.
Around 40 per cent of global carbon dioxide emissions stem from coal, while oil and gas contribute to the remaining percentage.
The report says global demand for coal rose by 1.4 per cent in 2023, mainly due to rising energy demand in emerging and developing economies, including India (8 per cent) and China (5 per cent).
