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COP28 Tripling Renewable Capacity Pledge 2025: Update Key Findings
…ambitions from previous NDC cycles, total renewable capacity pledges could exceed 1 600 GW, almost ten times what is captured in the current round of submissions (170 GW).In contrast, analysis of existing policies, plans and estimates for 189 countries corresponds to renewable capacity reaching 8 355 GW in 2030, five times the level reflected in NDCs. China’s renewable ambition is the highest globally, followed by Europe and the Asia Pacific region, all three together accounting for 80% of the global total. Solar PV is the leading technology in 2030 renewables ambitions. However, despite higher ambitions emerging from national policies, a significant ambition gap…
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China’s Official Energy Finance in Emerging and Developing Economies Setting the scene
…objectives. From around USD 875 billion today, energy investment in EMDE other than China needs to rise substantially in all scenarios. In the Net Zero Emissions by 2050 Scenario (NZE Scenario), energy investment in these countries, taken together, reaches nearly USD 2 trillion by 2035. Such a substantial scale-up requires taking careful stock of what the available sources of finance are, where they are going, and how they are being utilised to ultimately understand the future course of action.IEA analysis reveals that much of the financing for energy today in EMDE other than China derives from domestic capital. However…
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China’s Official Energy Finance in Emerging and Developing Economies Dashboard
…interactive view of Chinese official-sector financing for energy across EMDE, enabling users to explore project-level data by year, recipient country or region, technology, instrument, provider type and currency (when applicable). Developed to bring greater understanding of China’s diverse financing channels, the dashboard allows users to filter and compare flows in either USD (2024, MER) or by project count. It is designed to complement the analysis in this report and to support deeper understanding of how different institutions and instruments shape China’s role in EMDE energy finance.Use the filters to explore how Chinese energy finance is…
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China’s Official Energy Finance in Emerging and Developing Economies Case 1. Uzbekistan 1-GW Solar PV Project
…the same time, electricity demand is rising, natural gas supplies are tightening, and the country faces seasonal shortages.Energy China (CEEC), the developer of this project, is one of the world’s largest energy engineering groups. Historically known for large thermal and hydropower EPC projects, the company has, over the past decade, shifted towards an integrated “EPC + own + operate” model, particularly for renewables. This strategic shift aligns with China’s dual-carbon goals, its pledge to stop building new coal plants overseas and the growing demand for invest-and-operate models in EMDE markets. In February 2023, CEEC signed a…
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China’s Official Energy Finance in Emerging and Developing Economies Case 3. Saudi Arabia’s first green full-process heavy plate mill project
…ammonia, shipbuilding, offshore engineering and large-scale infrastructure. However, the country currently imports nearly all of its heavy plate steel, and domestic production has lagged the needs of an economy shifting towards more capital-intensive sectors and cleaner industrial processes.A new heavy-plate complex developed jointly by China Baowu Steel Group, Saudi Aramco and the Public Investment Fund (PIF) of Saudi Arabia addresses this gap. Announced in May 2023, the facility, which will be Saudi Arabia’s first full process steel plate production plant, will be located in Ras al-Khair Industrial City and is scheduled to begin operations…
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China’s Official Energy Finance in Emerging and Developing Economies Case 4. TFC Solar PV project in South Africa
…Developed near the TFC smelter in the Burgersfort area, the project will deliver 100 MW of solar PV capacity in two phases: 60 MW in phase I and 40 MW in phase II over two years. It is jointly developed by the China General Nuclear Power Group (CGN)’s Africa platform, the China-Africa Development Fund (CADFund) and local partner KONA Holdings Limited. The plant is designed as a captive power facility supplying electricity directly to the TFC smelter, which has long been owned by Samancor Chrome; Chinese SOE, Sinosteel, acquired a controlling stake in Samancor Chrome in 2022.Through…
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Coal 2025 Demand
…5% on the previous year. Growth was concentrated in Asia, while advanced economies continued their structural decline in consumption. Power sector coal use remained the dominant driver, supported by seasonal factors and hydropower variability, while non-power coal demand held broadly stable. China and India accounted for 71% of global consumption, reinforcing the eastward shift in demand.For 2025, global coal demand is projected to reach 8 845 Mt, setting a new record. The increase of around 40 Mt compared with 2024 is very similar to the forecast we made last year. While there were some unusual regional trends, they had the effect…
- Executive summary
- Demand
- Supply
- Trade
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Coal 2025 Trade
…up 21 Mt to 368 Mt). Coal trade accounted for approximately 18% of global coal demand, with thermal coal making up more than three-quarters of total traded volumes. Seaborne trade continued to dominate, representing over 90% of global coal trade in 2024.The Asia Pacific region further strengthened its dominance, accounting for 85% of global coal imports in 2024. China led global imports in 2024 with 548 Mt, an unprecedented figure for any country in history, followed by India (237 Mt) and Japan (162 Mt). Together, these three countries represented over 60% of global coal imports. On the export side, Indonesia remained the top exporter…
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Renewables for Industry Executive summary
…CO₂, accounting for half of all direct industrial emissions, although emissions have declined by around 8% since 2013.Industrial energy use is largely in the form of heat and is increasingly being supplied from electricity. Over the past decade, global use of electricity for industrial heat has accelerated, with the People’s Republic of China (hereafter, “China”), India and the Association of Southeast Asian Nations (ASEAN) recording the largest increases. Despite differing industrial structures, all major economies have converged toward similar electricity shares for industrial heat of around 4–5%. Increased uptake is being driven by improving cost competitiveness, expanding…
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Gas Market Report, Q1-2026 Executive summary
…of the year. Market opening reforms continued to gather pace in Asia while the European Union reached a historic decision to phase out Russian natural gas imports by November 2027 at the latest.Global LNG supply growth is set to accelerate further in 2026 to its fastest pace since 2019. This is expected to foster stronger global gas demand growth, primarily driven by China and emerging Asian markets. Global LNG supply hit double-digit growth in the second half of 2025, helping to ease market fundamentals Global LNG production increased by almost 7% (or 38 bcm) in 2025, with around…
