Coal remains the largest energy source for electricity generation, steelmaking and cement production – and the largest source of man-made carbon dioxide (CO2) emissions. To meet international climate targets, quickly curbing coal consumption and ending new approvals of unabated coal-fired power plants is essential.
A historic turning point could arrive soon. The International Energy Agency’s latest projections see coal demand peaking this decade under today’s policy settings, primarily as a result of the structural decline in coal use in developed economies and a weaker economic outlook for China, which has also pledged to reach a peak in CO2 emissions before 2030. However, key questions remain, including when the peak in coal demand will occur, at what level, and how fast consumption will decline after that point.
Since its first publication in 2011, the IEA's annual coal market report has served as the global benchmark for demand, supply and trade forecasts. Given coal’s impact on energy supply and CO2 emissions, Coal 2023 is indispensable reading for those following energy and climate issues.