Fossil fuel use and emissions reach record levels in 2023, says industry report | Energy

The share of renewable energy in global energy consumption reaches almost 15%, an all-time high.

Global fossil fuel consumption and greenhouse gas emissions reached record levels last year despite renewables generating more energy than ever before, an industry report has found.

Fossil fuel consumption increased by 1.5 percent compared to 2022, while emissions increased by 2.1 percent, the World Energy Statistical Review report showed on Thursday.

At the same time, the share of renewable energy in energy consumption reached 14.6%, an increase of 0.4% compared to the previous year.

Nick Wayth, CEO of the Energy Institute, said that while demand for fossil fuels is peaking in advanced economies, economic development and improvements in quality of life in emerging economies continue to drive fossil fuel growth.

“Progress on the transition is slow, but the big picture masks diverse energy stories unfolding in different geographies,” Wayth said in the report’s foreword.

The Global South was responsible for 56% of total energy consumption, with its use growing at twice the global average, the report states.

China was by far the biggest consumer of coal – accounting for 56 percent of total global consumption – while India’s consumption exceeded that of Europe and North America combined for the first time, according to the report.

By contrast, coal consumption in Europe and North America has fallen to the lowest levels since 1965, the report states.

In the United States, coal consumption has fallen by 17% and halved in the last decade.

China and India also saw large increases in natural gas use, with consumption increasing 7%, according to the report.

Demand in Europe fell 7%, keeping global consumption relatively stable.

China has also boosted the adoption of renewable energy, accounting for 63% of new global wind and solar capacity.

The Energy Institute, which represents the global energy sector, has been publishing the annual report in collaboration with consultancies KPMG and Kearney since 2023.

The institute took over publication of the report from BP, which had authored the report since the 1950s.