The study, released by International Energy Agency IEA) amid energy talks at Cop27 in Egypt, reveals staggering data on the dependence on coal in several countries despite ambitious climate action goals announced by leaders.
The report calls for a steep reduction in the use of the fossil fuel, including crucial policy changes this decade, for the world to avoid the catastrophic impacts of the climate crisis. The planet has already warmed by almost 1.2C on pre-industrial levels. The findings model several scenarios for a decline in the use of coal, which is the dirtiest of all fossil fuels and responsible for a big share of planet-heating carbon emissions, in the next few years.
Under all circumstances, the report states that the coal demand is set to peak this decade if countries stick to their announced targets. Under existing net zero commitments, the decline in use would be close to 70 per cent by 2030, it states. And if all countries adhere to IEA’s net zero scenarios, the decline should be about 90 per cent by 2050.
The global power sector, which is the biggest consumer of coal, should be completely decarbonised in advanced economies by 2035, and worldwide by 2040, the report states. Over 95 per cent of the world’s coal consumption is taking place in countries that have committed to reducing their emissions to net zero,” said IEA executive director Fatih Birol.
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