Global coal demand is expected to decline by 2026, according toThough global coal demand is rising by about 1.4% in 2023, IEA expects global coal demand to fall by 2.3% by 2026 compared with 2023 levels, even in the absence of governments announcing and implementing stronger clean energy and climate policies. This decline is set to be driven by the major expansion of renewable energy capacity in the three years to 2026, the IEA has projected.
the International Energy Agency’s annual coal market report—Coal 2023 — released on Friday.
The likely fall in coal demand is significant in view of the UAE Consensus agreed upon by nearly 200 countries at COP28 in Dubai on December 13.
