IEA Global Review Highlights An Energy Transition That Isn't Happening

Everyone engaged in business or policy activities related to the aspirational energy transition recognizes the reality that no such transition is possible without the full buy-in by the world’s two most populous nations, China and India. It’s a stark reality that just isn’t happening, which means the transition desired by western governments and global organizations like the United Nations and World Economic Forum isn’t happening, either.

Intentionally or not, this stubborn reality is highlighted by the Global Energy Review 2025 released Monday by the International Energy Agency (IEA). The report’s key findings highlight the fact that 2024 was a year for record growth in the solar power sector, which accounted for 38% of total energy supply growth globally. Less highlighted, though is the fact that global demand for every form of fossil fuel - oil, natural gas, and coal - also rose to new record highs in 2024.

The main driver of the rising demand for all fossil fuels was, to no one’s surprise, China, followed by India. This is especially true with coal, which China along consumes more of than every other nation combined. As if to highlight its own role as a rising user of coal, India’s Ministry of Coal put out a post on X celebrating its havig reached the milestone of 1 billion tonnes of coal production on Sunday, 24 hours ahead of the IEA’s publishing of its annual report.