According to the U.S. Department of Energy, U.N. data show that for the last five years, the industrial power sector is responsible for about a third of global CO2 emissions.
The coal, oil, and gas industries alone account for nearly half the global CO 2 emissions.
That makes them one of the biggest emitters of greenhouse gases.
But as the coal, gas, and oil industries continue to decline, the share of global emissions from the power sector has continued to increase.
The United Nations has projected that, by 2060, the power industry will be responsible for roughly half of global carbon emissions.
Meanwhile, the coal and oil sectors have been expanding their carbon footprint at an alarming rate.
In the first quarter of 2020, the global energy sector produced a whopping 2.3 billion tons of CO 2 – equivalent to nearly four times the amount produced by the power sectors in the same quarter of 2015.
And the coal sector has been expanding at an even faster pace.
According to a new report from the Energy Information Administration, in 2020, China accounted for nearly one-fifth of global coal consumption.
Meanwhile in India, the world’s second-largest coal exporter, China accounts for just 3.6 percent of its energy consumption.
The power sector as a whole has been adding coal to its portfolio at a rate of nearly one million tons a day, but the coal used to produce it is still relatively cheap.
According a recent report by Bloomberg, the average price for a metric ton of coal is $1.36 in 2020 dollars.
And as the number of coal-fired power plants continues to decline in the U, the demand for coal-burning power is likely to continue to increase, as the economy grows.
The U.K.’s Coal Industry will be the largest coal-producing country by 2050 and it is expected to add another 600 megawatts of new capacity, Bloomberg reported.
As Bloomberg reported, “by 2030, the UK will become the world leader in coal-powered power, according to a projection from consultancy the Rhodium Group.
In 2020, Britain’s share of the world coal market will increase from 25 percent to 50 percent, the report found.
By 2030, it will account for more than 80 percent of total power demand.”
will also be a net exporter of coal, contributing more than £1.4 billion to the EU’s coal exports and importing an estimated £8.5 billion worth of coal from other European countries, Bloomberg said.
Meanwhile the U-S.
has already seen its coal exports decline to $0.24/tonne.
Meanwhile India’s coal imports will decline to just £4.6 billion in 2020 from £8 billion last year, the Bloomberg report said.
India’s carbon emissions are expected to rise by as much as 20 percent by 2040.
The World Economic Forum estimates that India will be able to reduce its emissions by roughly 6 percent by 2030.
Meanwhile as the world transitions to cleaner sources of energy, the U.-K.
and other developing countries are likely to be able significantly reduce their emissions.