Why in News
Recent report published by IEA states, the coal demand will reduce 2.6% by 2026.
Despite production of coal reaching a record this year, global demand is expected to decline by 2026, a report by the International Energy Agency (IEA) says.
While the decline is expected to be due to a shift towards renewable energy and plateauing demand in China.
India will remain the “driving force” for the fuel until that year.
International Energy Agency (IEA)
The IEA is a Paris-based intergovernmental organization established in 1974.
It is made up of 31 member countries and 13 association countries, representing roughly 75% of global energy demand.
The IEA's mission is to ensure reliable and affordable energy supplies for its members.
While promoting energy security and environmental sustainability.
The agency does this by providing analysis, data, and policy recommendations on a wide range of energy issues, including:
Oil and gas markets
Renewable energy and energy efficiency
Climate change and energy security
Energy technology and innovation
The IEA is a respected source of information and analysis on the global energy sector.
Its publications, such as the World Energy Outlook and the Global Gas Report, are widely used by governments, businesses, and NGOs.
The IEA has played a key role in shaping global energy policy in recent years.
IEA was one of the first to sound the alarm about the dangers of climate change.
It has been a strong advocate for the transition to a low-carbon economy.
The IEA has also been at the forefront of efforts to improve energy security, and it has helped to develop a number of emergency oil response plans.
The agency was founded in the wake of the 1973 oil crisis.
The IEA's first executive director was Ulf Lantzke, who served from 1974 to 1978.
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