Enerdata, a research firm specializing in energy and its impact on the climate, has published the 2024 edition of its “Global Energy Trends” report. This report compares global energy data from the past year to that of previous years.
**Economic Growth and Energy Consumption**
In 2023, global economic growth and energy consumption returned to pre-COVID-19 crisis levels, with a 3% increase in GDP for G20 countries. This trend led to a more pronounced rise in energy consumption, both fossil and renewable, of 2.3% per year, compared to 1.3% previously. The economic boom in non-OECD countries, particularly China (+7%) and India (+5%), was a key factor.
In OECD countries, energy consumption decreased by 1.5% for the second consecutive year, with a 4% drop in the EU, a 3% decrease in Japan and South Korea, and stable consumption in the United States. Electricity consumption resumed its historical growth rate of 2.5% per year in G20 countries.
**Increase in CO2 Emissions**
In 2023, global CO2 emissions increased by 1.7%, reaching a record level. This increase is largely due to the high proportion of emissions from China and India, although their growth rate is lower than their energy consumption. The low availability of hydroelectric power in China and India has led to increased use of fossil fuels, particularly coal, contributing to the rise in global emissions.
The recovery of activity in the transport sector in China and global aviation also contributed to the increase in emissions. However, this impact was partially offset by milder temperatures in the United States, less intense industrial activity in the EU, Japan, and South Korea, and an increase in renewable energy production.
**Consumption of Fossil and Renewable Energies**
In 2023, gas consumption slightly rebounded by 0.9% after a decline in 2022, but remains below its historical rate. Oil consumption increased by 2.6%, faster than the historical trend, while coal consumption rose by 2.5%, driven by demand in Asia (China and India). The share of fossil fuels in the G20 energy mix remained stable due to this ongoing increase.
However, renewable energy production followed an encouraging trend, with record installation levels, particularly in China. Wind and solar production increased by 10% and 25%, respectively, reaching 15% of the G20’s electricity mix.
**Global Climate Goals and Challenges**
At the end of 2023, during COP28, more than 120 countries committed to tripling global renewable energy production capacity to reach 11,000 GW and doubling the global average annual energy efficiency rate by 2030. However, current contributions are insufficient to meet these goals. An average annual growth rate of 16% would be needed to triple current renewable energy capacity, compared to 11% since 2020.
Although renewable production capacity has increased, it still represents an insufficient share compared to fossil fuels. In 2023, renewables accounted for 45% of total electricity capacity but only 30% of electricity production, thereby avoiding only 7% of CO2 emissions from the electricity sector since 2000.
To achieve the 2030 goals, significant investments are needed to support renewables and massively deploy energy efficiency technologies, such as electric vehicles, heat pumps, and housing insulation.