Addressing climate change urgently requires global action. Transitioning to non-fossil fuel energy is crucial to reduce reliance on pollution-intensive sources like coal-fired power plants (CFPP) and coal-fired industrial boilers (CFIB). While striving to reduce emissions, countries need to carefully weigh this objective against factors such as energy security, employment, and economic growth.
The recent International Energy Agency (IEA) Coal Market Uptake report highlights the global energy crisis due to ongoing global unrest. Emerging economies show sustained demand for coal, with key points including:
- Global coal demand surged in 2022 due to energy market volatility and reduced nuclear and hydropower production.
- China and India collectively contribute double the coal consumption of all other countries.
- China's coal demand is driven by both electricity generation and the industrial sector.
- India's coal demand grew twice as much as China's, reaching over 1.1 billion tonnes.
- Indonesia became the fifth-largest coal consumer, also driven by increased demand from the steel and metallurgy sector.
- Global coal demand for electricity may remain stable, but with ongoing reliance on energy provision from this sector in China, South- and Southeast Asia.
- Emerging economies grapple with meeting energy demands and combating climate change. Balancing energy security with sustainability requires a shift to cleaner alternatives, adopting best environmental practices, and international support for a just transition to renewables.
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