The OECD's coal generation fell to just 17pc of its total power generation in 2023, down from 36pc at its peak in 2007, because of rapid growth in solar and wind power, according to think-tank Ember.
A third of the 38 OECD countries are now coal-free, according to Ember's report on coal generation in OECD countries published on 1 October. The UK closed its last coal-fired power plant, the Ratcliffe-on-Soar, on 30 September, making it the 14th OECD country to achieve coal-free power. About three-quarters of the OECD nations will be coal-free by 2030. The majority of coal has been replaced by wind and solar power, which increased by 1,723TWh, or eleven-fold, over 2007-23.
Only Turkey set a new record-high for coal generation in 2023, indicating it has not yet passed its peak. The country raised the share of coal in its electricity supply to 37pc, overtaking Poland as the second-biggest coal generator in Europe after Germany. There are also a number of countries in the OECD that still rely on coal for more than a quarter of their electricity needs, such as Poland with 61pc of its power mix, Australia with 46pc, the Czech Republic with 40pc and Germany with 27pc.
But even countries that have been slower to phase out coal are still planning to reduce its share in their electricity mix, such as Japan, which aims to cut coal generation from 32pc in 2023 to 19pc by 2030, and South Korea, which targets to halve coal from 33pc in 2023 to 17pc in 2030.
The drop in coal-fired power generation has also led to a 28pc drop in the OECD's power sector emissions over 2007-23, according to the report, although it did not provide further details on emissions reductions.
Countries are boosting renewable electricity to cater to the increase in electricity demand, while reducing fossil fuels. Electricity demand in the OECD rose by just 1pc, so the growth in renewables was able to replace fossil fuels instead of "just meeting new demand," stated the report.
But coal-powered generation globally hit a new record in 2023 as the fall in the OECD's coal power was outweighed by increasing coal-fired power in emerging Asian economies.
OECD countries should end coal use by 2030 to align with the global warming limit of 1.5°C above pre-industrial levels the Paris Agreement seeks, energy watchdog the IEA and research institute Climate Analytics said. The OECD is working on a "gold standard" for financial institutions as part of the coal transition accelerator initiative, and the standard will provide clear guidelines on creating a robust financing policy or strategy to transition away from coal.
