Global Energy Trends 2024
In the 2024 edition of its annual report, Enerdata presents an analysis of energy-climate trends based on consolidated statistics for the year 2023.
📐Methodology
Based on Enerdata’s updated data on climate, energy and CO2 emissions, this report presents:
- The evolution in 2023 of key figures and trends by energy type for the G20 countries
- Progress towards the COP28 target of tripling renewable energy and doubling energy efficiency improvements
- Perspectives on long-term decarbonisation pathways
🔎 Key Takeaways
Key figures for the G20 countries in 2023 :
- Economic growth has returned to the average trend observed between 2010 and 2019, but energy consumption is rising faster – the G20 has not decoupled energy consumption from economic growth, and has not reduced energy intensity sufficiently to stay on a +2°C trajectory.
- Nevertheless, trends by country vary according to GDP, economic structure and electricity mix. Significant variations have been observed between OECD and non-OECD countries.
- The share of fossil fuels in the G20 energy mix has remained unchanged, with coal and oil consumption continuing to rise, driven by countries such as China and India.
- The share of renewable energies in the energy and electricity mix rose only slightly, despite an increase in wind and solar power production (Figure 1). As a result, CO2 emissions rose by 1.7%.
Global renewables and energy efficiency pledge:
- New renewable installations reached record levels. Wind and solar generation grew rapidly (+10% and +25%, respectively) by 2023, reaching 15% of the G20 electricity mix.
- China installed as much renewable generation capacity in 2023 as the entire world did in 2022.
- Nationally Determined Contributions (NDCs) are not enough to achieve the 2030 climate targets, even though these targets, set by COP 28, are in line with the 2°C warming objective.
