Global fossil fuel consumption and greenhouse gases hit unprecedented levels last year, even as renewable energy reached new highs in production, according to an industry report.

The Statistical Review of World Energy report, published on Thursday, indicated a 1.5 percent increase in fossil fuel usage and a 2.1 percent rise in emissions compared to 2022.

The Rise in Fossil Fuel Use

Despite the growth in renewable energy, which saw its share of global consumption reach 14.6 percent—an uptick of 0.4 percent from the previous year—fossil fuel usage continues to rise. Nick Wayth, CEO of the Energy Institute, noted that while developed nations are seeing a peak in demand for fossil fuels, emerging economies are still experiencing growth due to economic and quality of life improvements.

“The transition's pace is sluggish, but it conceals various energy patterns across different regions,” Wayth commented in the report's foreword.

Energy Consumption Trends

The report pointed out that the Global South is responsible for 56 percent of worldwide energy consumption, growing at twice the average global rate. China emerged as the largest coal consumer, using 56 percent of the world's supply. For the first time, India's coal consumption surpassed that of Europe and North America combined.

In contrast, Europe's and North America's coal usage dropped to its lowest point since 1965. The U.S. saw a 17 percent reduction in coal usage, marking a 50 percent decrease over the last ten years.

Natural Gas and Renewables

China and India also significantly increased their natural gas consumption by 7 percent. In Europe, demand decreased by 7 percent, resulting in a stable global consumption rate. China led the way in renewable energy adoption, accounting for 63 percent of new global wind and solar capacity.

The Energy Institute has been releasing this annual report in collaboration with KPMG and Kearney since 2023, taking over from BP, which had been publishing it since the 1950s.