Global energy consumption hit all-time peak in 2023: Report

Nuclear power plant

The Statistical Review of World Energy indicated that global energy consumption reached its highest level ever in 2023, with energy-related emissions hitting a new record high, Reuters reported.

The report, prepared by the Energy Institute (EI) and partners KPMG and Kearney, stated that total global primary energy consumption reached an all-time peak of 620 exajoules (620 million terajoules) in 2023, an increase of 2% from the previous year.

It also mentioned that carbon dioxide emissions surpassed the 40-gigaton mark for the first time ever last year. This was despite a slight decrease in the share of fossil fuels in the global energy mix.

The report highlighted varying trends in fossil fuel usage across different regions, noting that its share in Europe's energy mix dropped below 70% for the first time since the Industrial Revolution.

Meanwhile, fossil fuels met most of the uptick in India’s energy demand last year. Their consumption in China rose 6% year-on-year (YoY) in 2023, reaching a new record high.

The report explained that global fossil fuel consumption climbed by 1.5% YoY to 505 exajoules in 2023, while its share in the energy mix decreased by 0.5% YoY to 81.5%.