Global fossil fuel consumption and energy emissions hit all-time highs in 2023, even as fossil fuels’ share of the worldwide energy mix decreased slightly compared with the previous year.

This is one of the key findings from the comprehensive Statistical Review of World Energy 2024 published in late June by the Energy Institute in conjunction with consultancies KPMG and Kearney. The report compiles and analyses data on world energy production, consumption, and emissions from the prior year and has been a benchmark for energy professionals since the 1950s. Prior to 2022, it was published by BP.

The report highlights 2023 as the first full year without major movement restrictions linked to the COVID-19 pandemic, and states that overall global primary energy consumption broke previous records at 620 Exajoules (EJ). This is a 2% increase on 2022 levels. In the same period, although the contribution from renewables reached a new high of 8% compared with 7.5% in 2022, emissions exceeded 40 gigatonnes of CO₂ for the first time.

The report records shifting trends in fossil fuel use in different regions. Whereas in Europe, for example, the fossil fuel share of energy fell below 70% for the first time since the industrial revolution, it accounted for almost all demand growth in India in 2023.

In China, fossil fuel use rose 6% to a new high. Interestingly though, China accounted for 55% of all renewable generation additions in 2023, and was responsible for 63% of new global wind and solar capacity.

Speaking at a launch day event held on June 20 and broadcast live on YouTube, Energy Institute CEO Nick Wayth called 2023 the warmest year on record and characterised it in terms of five main stories:

1. Record global energy consumption with coal and oil pushing fossil fuels and their emissions to record levels.
2. Solar and wind push global renewable electricity generation to a record level
3. Ongoing Ukraine conflict cements gas rebalancing in Europe.
4. Dependence on fossil fuels in major advanced economies likely to have peaked.
5. Growth economies struggle to curb fossil fuel growth but renewables accelerate in China.

In closing the launch day presentation, Kearney representative Romain Debarre expressed the authors’ hope that the report, which is freely available to the public, will “help governments, world leaders and analysts move forward, clear-eyed about the challenge that lies ahead.”