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 ➡️ iea.li/3ef1vrw
And join IEA Head of Energy Supply and Investment @tgouldao, report lead author @tae100 & me for the live launch event at 11am CEST ➡️ iea.li/3egk6TV
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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 ➡️ iea.li/3q8hD0u
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: iea.li/3dXA6dS
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.
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.
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.
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.
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.