Coal set for largest decline since World War II

New Delhi: In a historic shock amid Covid-19 pandemic, coal is set for the largest decline since World War II alongside sharp reductions for oil and gas, the International Energy Agency (IEA) said on Thursday in a report.

Nuclear power is less affected, while renewables are the only energy source on the rise in 2020, thanks to priority access to grids and low operating costs.

The Covid-19 pandemic represents the biggest shock to the global energy system in more than seven decades, with the drop in demand this year set to dwarf the impact of the 2008 financial crisis and result in a record annual decline in carbon emissions of almost eight per cent.