Global coal demand is expected to reach an all-time high this year during the energy crisis sparked by Russia’s invasion of Ukraine, according to the International Energy Agency (IEA).
The world’s coal consumption will remain at similar levels in the coming years in the absence of stronger efforts to boost the transition to clean energy, the Paris-based agency said in its Coal 2022 report.
Several countries have resumed or expanded the use of coal for power generation when faced with high natural gas prices and global competition for liquefied natural gas (LNG) shipments.
“The world is close to a peak in fossil fuel use, with coal set to be the first to decline, but we are not there yet,” said Keisuke Sadamori, the IEA’s director of energy markets and security.
“At the same time, there are many signs that today’s crisis is accelerating the deployment of renewables, energy efficiency, and heat pumps and this will moderate coal demand in the coming years.”
Global coal use is on track to rise by 1.2 per cent in 2022, exceeding eight billion tonnes in a single year for the first time and breaking a previous record set nine years ago.
Coal consumption will remain at this level through 2025 as a decline in developed economies is offset by robust demand in Asia, the IEA said.
In China, the world’s largest coal consumer, a heatwave and drought pushed up coal power generation during the summer, even as strict Covid-19 restrictions slowed demand.
Europe, which has been hit hard by Russia’s sharp reductions in the supply of natural gas, is on course to increase its coal consumption for the second year in a row, the report said.
By 2025, the continent’s coal demand is expected to fall below 2020 levels.
“Despite high prices and comfortable margins for coal producers, there is no sign of surging investment in export-driven coal projects,” the IEA said.
“This reflects caution among investors and mining companies about the medium and longer-term prospects for coal.”
Meanwhile, global renewable power capacity growth is on track to nearly double in the next five years, overtaking coal as the largest source of electricity generation, the IEA said in a report this month.
Renewable power capacity is expected to grow by 2,400 gigawatts by 2027, equivalent to the current power capacity of China, the world’s second-largest economy.
Developing economies in Asia are expected to increase coal use to drive economic growth even as they invest more in renewables.
“Developments in China will have the biggest impact on global coal demand in the coming years, but India will also be significant,” the agency said.
The IEA had previously said that emissions from existing coal assets would be enough to tip the world over the 1.5°C limit.
The world must move quickly to reduce carbon dioxide emissions from coal to avoid severe climate change, said the agency in a report last month.
It called for immediate policy action to mobilise financing for clean energy alternatives.
Killing of Qassem Suleimani
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
More from Rashmee Roshan Lall
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
UAE currency: the story behind the money in your pockets
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
WWE Super ShowDown results
Seth Rollins beat Baron Corbin to retain his WWE Universal title
Finn Balor defeated Andrade to stay WWE Intercontinental Championship
Shane McMahon defeated Roman Reigns
Lars Sullivan won by disqualification against Lucha House Party
Randy Orton beats Triple H
Braun Strowman beats Bobby Lashley
Kofi Kingston wins against Dolph Zigggler to retain the WWE World Heavyweight Championship
Mansoor Al Shehail won the 50-man Battle Royal
The Undertaker beat Goldberg
Zimbabwe v UAE, ODI series
All matches at the Harare Sports Club
- 1st ODI, Wednesday, April 10
- 2nd ODI, Friday, April 12
- 3rd ODI, Sunday, April 14
- 4th ODI, Sunday, April 16
Squads:
- UAE: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
- Zimbabwe: Peter Moor (captain), Solomon Mire, Brian Chari, Regis Chakabva, Sean Williams, Timycen Maruma, Sikandar Raza, Donald Tiripano, Kyle Jarvis, Tendai Chatara, Chris Mpofu, Craig Ervine, Brandon Mavuta, Ainsley Ndlovu, Tony Munyonga, Elton Chigumbura
Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EQureos%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EUAE%0D%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3E2021%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E33%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3ESoftware%20and%20technology%0D%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%243%20million%0D%3Cbr%3E%3C%2Fp%3E%0A