Carbon emissions on track for second-biggest annual increase ever in 2021

Carbon emissions on track for second-biggest annual increase ever in 2021

Global energy-related carbon emissions are set to record their second-biggest annual increase ever in 2021, fuelled by coal consumption in Asia, the International Energy Agency's (IEA) forecasted.Energy-related CO2 emissions are to increase by 5 per cent — or 1,500 billion tonnes — this year to reach 33 billion tonnes. This is the biggest annual increase since 2010, when the world was recovering from the financial crisis."This expected increase would reverse 80 per cent of the drop in 2020, with emissions ending up just 1.2 per cent (or 400 Mt) below 2019 emissions levels," the IEA flagged in its report released on Tuesday.The increase is blamed on an expected significant boost in demand for fossil fuel and in particular coal. The IEA predicts demand for coal will rise by 4.5 per cent this year, exceeding levels seen in 2019 and approaching a peak reached in 2014.More than 80 per cent of the growth in coal demand is to be concentrated in Asia with China accounting for over half of global growth. Demand for coal is also expected to increase in Europe and the US but should remain "well below" pre-crisis levels.Overall, energy demand is set to increase by 4.6 per cent