Increasing Coal Use Threatening Global Climate

Increasing Coal Use Threatening Global Climate

Coal's share in overall Global Energy Market has reached an all-time high since 1970. Many developed countries still rely heavily on coal for energy. Major economies in Asia, including China and India are setting up new power projects based on coal. Coal's all time high figures in the last 40 years show that despite climate change being the current hot concern, coal is still being used excessively. Coal use leads to high carbon emissions, which is a prime cause of climate change.

Power generation along with other uses of coal grew by 3% in 2013, making coal the most demanded fossil fuel. BP Statistical Review reports state that coal's share increased almost by 30% in the market for the first time since
1970.

This is because of many economies still depending a lot on this fossil fuel. Europe is among the regions that use excessive coal and its coal imports have even gone higher than the US. Developing countries such as China and India too depend a lot on coal usage and the consumption has increased over years.

Though there are economies where its use has gone down, like in the US, coal has been displaced in power stations by even cheaper shale gas. China too has dropped its coal usage by 4.7% from last year's 8.4%.

Oil, the other major carbon polluter, is the world's leading fuel. It has an important role in transportation and also in the manufacturing of chemicals and plastics. Around 33% of global energy consumption is of oil largely.

A paper from Stern, chair of the Grantham Research Institute on Climate Change and president of the Royal Academy for humanities and social sciences, and Simon Dietzan, an associate professor in environmental policy at London School of Economics and Political Science has warned about climate change. The paper raised concerns over the fear that living standards of people could start to decline by the end this century, if nothing is done to curb the climate change. Decline in annual emissions of greenhouse gases is a matter of paramount importance to mitigate climate change.

This paper aims at prompting economists to strive for much better models that can help policymakers and the public to recognize the intensity of unmanaged climate change.


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