The world plans to record the second major rise in greenhouse gas emissions by 2021, leading to a resumption of coal consumption in Asia, according to the International Energy Agency.
Global CO2 emissions could jump by 1.5bn tons to 33bn tons this year, the highest increase since 2010, the IEA said Tuesday. This could reverse the 80% decline that occurred in 2020, when the epidemic was forced, with an increase in air pollution to below the peak of 2019.
Coal used in power generation in China is expected to increase this year, the IEA said.
Fatih Birol, chief executive officer of the IEA, said: “This is a very serious warning that economic growth from the Covid crisis will not help our era.” He also called on world leaders to “act transparently and expeditiously” at a summit in the US this week.
The IEA warned in March around the world gas-related emissions was more in December than it was in the same month in 2019, due to increased pollution from the coronavirus lock – which Birol said should be a “warning” to policymakers.
Global gas prices fell by about 6% in 2020 over the previous year, but this began to change rapidly as the economy began to reopen.
On Tuesday, the IEA predicted that oil consumption would grow “more” in 2021, while coal and gas would probably be more needed in 2021 than in 2019. On average, electricity demand is expected to rise by 4.6 percent in 2021 – compared to the fall 4% in 2020 – driven by upcoming markets.
Coal demand is expected to grow 4.5% this year and reach its peak in 2014, mainly due to oil exports in Asia, and in China in particular, according to the IEA findings. These statements were developed internationally and examined the realities of economic growth and energy projects in development.
Coal use in the US and the EU was also likely to increase, although it should remain under coronavirus risk, says the IEA.
United Nations Secretary-General António Guterres said Monday that “the first step” should be to ensure that no new electricity is built, and that coal will be eliminated in all countries by 2040. The world cannot achieve the Paris Agreement of 1.5C. for the industry, he said.
Speaking to Guterres, the secretary general of the World Meteorological Organization, Petteri Taalas, said there was a “20% chance” that the earth would warm by 1.5C “over the next five years for some time.”
Letter of mail twice a week
Energy is the most important business in the world and Source Source is his story. Every Tuesday and Thursday, directly in your mailbox, Energy Source brings you important news, future analysis and in-depth insight. Sign in here.
“Obviously we will see the years when we fight [1.5C] for a while, ”he said.
The increase in oil consumption in 2021 will occur despite the annual increase in solar and wind power, the IEA said Tuesday. Electricity supplements are expected to generate about one-third of the world’s electricity this year.
Oil is likely to remain at its peak in 2019 as airlines have not returned to the plague before, the IEA said.
Follow @yamautisyouten on Instagram
Seasonal Growth
Where climate change meets business, markets and politics. See the FT publication here
