China's Coal Consumption Projected to Decrease by Only One-Third by 2040, Jeopardizing Global Climate Targets

A recent report by a European consultancy firm has revealed that China's coal consumption is expected to decrease by only one-third by 2040, potentially jeopardizing global climate targets that aim to phase out most coal use by that time. The report highlights the challenges faced in achieving the necessary reductions in coal consumption to meet climate goals.

According to the report by DNV, China's energy transition is progressing, with the power sector rapidly decarbonizing by replacing coal with renewable energy. China is a leader in renewable energy investments, with wind and solar expected to contribute 38% each to electricity production by 2050. However, the country will still rely on imports for a significant portion of its oil and gas usage.

While China's energy use is projected to peak by 2030 and decrease by 20% by 2050, the country's emissions will still account for a fifth of global energy-related CO2 emissions by 2050, despite a 70% reduction in absolute terms. The report suggests that China could further accelerate its transition to reduce reliance on fossil fuels and move closer to net-zero emissions by 2050.

Why this matters: China's progress in reducing coal consumption and transitioning to renewable energy sources has significant implications for global efforts to combat climate change. As the world's largest emitter of greenhouse gases, China's actions will play a critical role in determining whether global climate targets can be met.

The report's findings emphasize the need for China to accelerate its efforts in phasing out coal and increasing the adoption of clean energy technologies. While the country has made significant progress in renewable energy investments, the projected one-third reduction in coal consumption by 2040 falls short of what is needed to align with global climate goals.

Experts stress that achieving the necessary reductions in coal consumption will require a concerted effort from China and the international community. Collaboration, technology sharing, and financial support will be essential in facilitating a more rapid transition away from coal and towards sustainable energy sources.

Key Takeaways

• China's coal consumption to decrease by only 1/3 by 2040, jeopardizing climate goals.
• China is a leader in renewable energy, with wind and solar to contribute 38% each by 2050.
• China's emissions will still account for 1/5 of global energy-related CO2 by 2050.
• China could accelerate transition to reduce fossil fuel reliance and reach net-zero by 2050.
• Achieving coal reduction requires collaboration, technology sharing, and financial support.