Global Energy Review 2021 report

Initial estimates for 2020 energy demand and CO₂ emission was released recently in an annual report Global Energy Review by International Energy Agency (IEA).

• The Global Energy Review is annual update on the latest trends in world energy and CO₂ emissions.
• It covers all the main fuels and technologies, providing insights across regions, economies and countries.

Highlights of the report:

• Global energy-related carbon dioxide (CO₂) emissions are on course to surgeby 1.5 billion tonnes in 2021 driven by in the resurgence of coal use in the power sector.
  • The second-largest increase in history.
  • This would be the biggest annual rise in emissions since 2010, during the carbon-intensive recovery from the global financial crisis.
• CO₂ emissions will increase by almost five per cent in 2021 to 33 billion tonnes.
  • The key driver is coal demand, which is set to grow by 4.5 per cent, surpassing its 2019 level and approaching its all-time peak from 2014, with the electricity sector accounting for three-quarters of this increase.
• Global energy demand is set to increase by 4.6 per cent in 2021, led by emerging markets and developing economies, pushing it above its 2019 level.
• Demand for all fossil fuels is on course to grow significantly in 2021, with both coal and gas set to rise above their 2019 levels.
• Oil is also rebounding strongly but is expected to stay below its 2019 peak, as the aviation sector remains under pressure.
  • More than 80 per cent of the projected growth in coal demand in 2021 is set to come from Asia, led by China.
• Electricity generation from renewables is set to leap by over eight per cent in 2021.
• The biggest contribution to that growth comes from solar and wind.
  • Electricity generation from wind is projected to grow by 275 terawatt-hours, or around 17 per cent, from last year.
  • Electricity generation from solar PV is expected to increase by 145 terawatt-hours, up almost 18 per cent from last year.
  • Their combined output is on track to reach more than 2800 terawatt-hours in 2021.
• Renewables are set to provide 30 per cent of electricity generationworldwide in 2021.
• China is expected to account for almost half of the global increase in electricity generation from renewables, followed by the US, the European Union and India.