Global coal demand surpassed pre-Covid levels in late 2020, underlining the world’s emissions challenge.
Global coal consumption fell 4% in 2020, its steepest drop since World War II, but the decline was concentrated mostly in the early months of the year. By the end of 2020, demand had surged above pre-Covid levels, driven by Asia where economies were fast rebounding and December was particularly cold.
Coal use in the fourth quarter was 3.5% higher than in the same period in 2019, contributing to a resurgence in global CO2 emissions.
The rebound in demand for coal, the single largest source of global CO2 emissions, underscores the challenge that its continued significant role in the power sector and industry poses for efforts to meet international climate goals.
Twenty years ago, the United States and the European Union (EU-27) accounted for more than one‑third of global coal consumption, about the same as China and India combined. Fast forward two decades and China and India account for two-thirds of global coal use, with the European Union and United States adding up to just 10%.
Southeast Asia’s coal consumption has now surpassed the European Union’s and will soon overtake that of the United States. Global coal trends are now firmly driven by Asia.
Source: Carlos Fernández Alvarez. See full article HERE.