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Sharp declines in critical mineral prices mask risks of future supply strains as energy transitions advance - News from the International Energy Agency
Global coal consumption climbed to a new all-time high in 2022 and will stay near that record level this year as strong growth in Asia for both power generation and industrial applications outpaces declines in the United States and Europe, according to the IEA’s latest market update.
Global coal demand is set to increase only marginally in 2022 but enough to push it to an all-time high amid the energy crisis, according to a new IEA report, which forecasts the world’s coal consumption will remain at similar levels in the following years in the absence of stronger efforts to accelerate the transition to clean energy.
Measures implemented this year could bring down gas imports from Russia by over one-third, with additional temporary options to deepen these cuts to well over half while still lowering emissions.