Demand for critical minerals is set to soar as the world pursues net zero goals, our new @IEA report shows.

The energy sector’s needs for minerals could rise by as much as 6 times by 2040. Insufficient supplies would risk delays & extra costs.

More ➡️
The mineral requirements of an energy system powered by clean energy are profoundly different from one that runs on fossil fuels.

For example, an offshore wind plant needs 13 times more mineral resources than a similar sized gas power plant.

Our report shows a looming mismatch between the world’s strengthened climate ambitions & the availability of critical minerals that are essential to realising those ambitions

Governments need to act now & act together to reduce the risks of price volatility & supply disruptions
Production & processing of many minerals – such as nickel, cobalt & rare earths – are concentrated in a handful of countries. In some cases, the top 3 producers generate over 75% of supplies.

Producers need to meet stricter environmental & social standards.
The challenges are not insurmountable, & critical minerals don’t undermine the case for clean energy.

Though mineral extraction is relatively emissions-intensive, the lifecycle emissions of EVs today are about 1/2 those of a traditional car & only 1/4 with clean electricity.
The @IEA is committed to helping governments ensure that mineral supplies don’t hinder global clean energy transitions.

For this report, we set up a unique database of future mineral requirements in varying scenarios. And we're providing 6 key recommendations for policy makers.
To learn more, explore the findings of this free report on our website ➡️

And join IEA Head of Energy Supply and Investment @tgouldao, report lead author @tae100 & me for the live launch event at 11am CEST ➡️

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More from @fbirol

20 Apr
Global CO2 emissions are set to jump by 1.5 gigatonnes in 2021 – led by a rebound in coal demand mainly from the power sector.

It would be the 2nd largest rise in emissions ever. This economic recovery is anything but sustainable for our climate.

More ➡️
Global coal demand is expected to rebound by 4.5% this year, taking it higher than in 2019 & close to its 2014 peak.

Coal's growth in 2021, driven by the power sector, is set to be 60% bigger than that of all renewables combined.

Read more from @IEA:
Demand for fossil fuels is growing rapidly in 2021, with gas set to rise the most above its 2019 level.

Oil demand is also rebounding fast, but with the aviation sector still sluggish, it is set to stay below its 2019 peak.

Major policy changes are needed to alter these trends.
Read 5 tweets
2 Mar
BIG NEWS: Despite falling 6% in 2020 as a whole, global energy-related CO2 emissions rebounded over the course of the year from an April low and rose above their 2019 level in December

Our numbers indicate a return to carbon-intensive business-as-usual ➡️
Major economies led the worrying resurgence in CO2 emissions, with China, India & Brazil all above 2019 levels by the end of the year – and the US approaching them.

This is a stark reminder of the urgent need to accelerate global clean energy transitions:
Global emissions fell by almost 2 billion tonnes in 2020, the largest absolute decline in history. Most of this was due to lower use of oil for road transport & aviation.

As travel & economic activities pick up around the world, oil consumption & its emissions are rising again.
Read 4 tweets
9 Feb
Our new India Energy Outlook is out!

India is set to see the largest rise in energy demand of any country in the next 20 years. How it meets this increase will have major consequences for its people, its economy and global energy & climate trends.

India has made stunning progress in recent years, bringing electricity to vast numbers of people & rapidly expanding solar & other renewables

The @IEA report shows India now has a huge opportunity to develop its economy further while avoiding the high-carbon path taken by others
More than any other major economy, India’s energy future depends on buildings & factories yet to be built, and vehicles & appliances yet to be made

Based on India’s current policy settings, nearly 60% of its CO2 emissions in the late 2030s come from things that don’t exist today
Read 7 tweets
10 Nov 20
Renewables 2020 is out!

This new @IEA report shows renewable power is still growing strongly despite the Covid crisis – unlike all other fuels.

Renewable electricity generation will rise 7% in 2020, & capacity additions will set records this year & next
After a 4% rise in renewable capacity in 2020 driven by 🇨🇳 & 🇺🇸, @IEA forecasts that additions will jump 10% in 2021, led by 🇮🇳 & 🇪🇺

This would be the fastest rate of growth since 2015, but policy action is needed to keep up momentum into 2022

Read more:
The bright prospects of the sector are reflected by continued strong appetite from investors.

This is made clear by shares of solar & wind energy companies outperforming the rest of the energy sector, and by the record level of renewable power capacity auctioned in 2020.
Read 9 tweets
13 Oct 20
The World Energy Outlook 2020 is out!

It shows how the Covid crisis has brought deep disruption & uncertainty to the energy sector.

Whether it helps or hinders clean energy transitions will depend on how the pandemic plays out & how governments respond:
Solar is becoming the new king of the world’s electricity markets, leading the renewables charge.

It is set to triple before 2030 under today’s policy settings & has the potential to grow much faster, followed by onshore & offshore wind.

More on #WEO20:
There's lots of talk about peak oil demand, but it misses the point.

#WEO20 shows that the era of global oil demand growth will end in the next decade. But without a big shift in government policies, there's no sign a rapid decline is coming.

More ➡️
Read 8 tweets
10 Sep 20
New from @IEA: Energy Technology Perspectives 2020!

It shows we need to scale up clean technologies sharply to meet energy & climate goals.

The transition of the power sector can only get us 1/3 of the way there. Other sectors are key.

The rise of solar, wind & batteries is cause for optimism, but big challenges remain.

A huge one is emissions from inefficient coal power plants, heavy industries & other existing infrastructure around the world – mostly in emerging Asia.

Read more:
Heavy industry has lots of long-lived assets like steel mills, cement kilns & chemical plants. In emerging Asia, many are still young.

Technologies like hydrogen & CCUS will be crucial to tackle emissions from these facilities, but we need to move quick to get them ready in time
Read 6 tweets

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