According to ‘Global Energy Review 2021’ released by International Energy Agency (IEA), Global CO2 emissions are set to touch 33 Billion Tonnes in 2021, an increase of 5% compared to 2020 Levels (up by 1.5 Billion Tonnes from 2020). It is the 2nd Largest increase in emissions ever.
- It would be the Biggest annual rise in emissions since 2010.
- The major reason for increase in CO2 emissions is due to rise in Coal demands. Coal is set to grow by 4.5% in 2021 surpassing its 2019 level. Electricity sector accounts for three-quarters of this increase.
- The report is IEA’s annual update on latest trends in world energy and CO2 emissions.
Key Forecasts
Global Energy Demands
- Global Energy demand is set to increase by 4.6% in 2021. The Demand for all fossil fuels (majorly Coal & Gas) is set to grow significantly in 2021.
- The demand of Coal is set to increase by 60% more than all renewables combined. It will reverse 80% of the drop achieved in 2020.
- 80% of coal demand in 2021 is set to come from Asia, led by China.
Renewable Energy
Renewables are set to provide 30% of electricity generation worldwide in 2021 (an increase of over 8%). It is the biggest share of the power mix since the beginning of the Industrial Revolution.
- China will account for almost half of the global increase in electricity generation from renewables, followed by the US, the European Union and India.
- Biggest contributor to the growth of the renewable sector will be Solar & Wind energy.
- Electricity generation from wind is projected to grow by 275 Terawatt-hours, (an 17% growth from 2020) and Solar PV is set to rise by 145 Terawatt-hours, an increase of 18% from 2020.
- Combined output of Wind & Solar PV is set to reach 2, 800 Terawatt-hours in 2021.
Natural Gas
- The demand for Natural Gas is set to grow by 3.2% in 2021.
Electricity demand
- It is expected to increase by 4.5% in 2021, or over 1000 TWh.
Recent Related News:
i.February 2021, According to IEA’s “India Energy Outlook 2021”, India will surpass European Union as the world’s third-biggest energy consumer by 2030.
About International Energy Agency (IEA)
Executive Director – Fatih Birol
Headquarters – Paris, France
Members Countries– 30 member countries
