Home Stock Market Record coal burning in China, recovery from COVID will drive a recovery...

Record coal burning in China, recovery from COVID will drive a recovery of global carbon emissions: IEA


China’s coal consumption is poised to hit a record this year, a rise that contrasts with the views of many climate change and energy experts, according to a closely watched global organization. coal burning is the world’s second largest economy and polluting the biggest. peaked.

Overall, as the world economy withdraws from COVID-19 and because China’s coal demand is expected to increase by 4%, global carbon emissions will rise again by 2021, the National Energy Agency. health said on Tuesday.

The IEA says carbon dioxide emissions associated with the energy sector will increase by 1.5 billion tons by 2021, the largest increase since 2010, the IEA said.

Data accessed many days ago a US-led global conference on climate change and days after US climate envoy John Kerry and his Chinese counterpart Xie Zhenhua agree to cooperate to curb climate change with urgency.

The results could also fuel President Biden’s political opposition’s argument against devoting much of the proposed infrastructure planning to climate change mitigation. Republicans often argue that China must clean up its actions before the US spends heavily to limit its own pollution.

Read: The world’s fossil fuel addiction is only getting stronger – so this is the place to invest, says Wells Fargo’s LaForge.

“Unless governments around the world move quickly to start cutting emissions, we are likely to face a worse situation by 2022,” said IEA CEO Fatih Birol. .

Global energy demand is expected to grow 4.6 percent this year, with developing economies pushing it above 2019 levels, the report says.

Last year, the use of fossil fuels declined markedly, while solar and wind power continued to increase. This year, however, the IEA expects coal use to recover, eclipsing the steady rise of “green” sources.

Chinese and global data showed that coal use in the economic power peaked around 2013-14, before the latest data contradicted that evidence.

“The future of both Chinese and global coal demand depends on China’s electricity system,” said the IEA report.

Asia will continue to boost demand for coal. In the US and Europe, coal use will increase as part of stronger overall energy use as the pandemic appears to be waning, but the forecast is still lower than two years ago. The IEA said global coal demand would increase 4.5%, exceeding levels seen before the pandemic.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments