Supply of minerals critical to the energy transition could move close to levels needed to support climate pledges by 2030 after a surge in investment, the International Energy Agency said on Tuesday - provided all projects go as planned.
Consultants and analysts have warned of looming shortages due to surging demand for key minerals like lithium and cobalt used in electric vehicles, wind turbines and other clean energy technologies.
"We are happy that for a change we can give some good news," IEA Executive Director Fatih Birol told Reuters in an interview. Demand for critical minerals has surged over the past five years, including a tripling in consumption of lithium and a jump of 70% for cobalt, with the total critical mineral market now worth $320 billion, it said.
The newly financed projects will help meet rising demand for critical minerals that the IEA has calculated will be needed to meet climate pledges made by governments, which would likely result in a global temperature rise of 1.7 C by 2100.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
15 Retail CBDCs Likely by 2030, BIS Study SaysA survey conducted by the Bank for International Settlements also found 93% of central banks worldwide were engaged in digital currency work in 2022.
Read more »
Research: There could be 24 CBDCs live by 2030More than half of the world’s CBs are conducting experiments or working on a CBDC pilot. Almost a quarter of all CBs are already piloting their retail CBDC projects.
Read more »
Twenty-four central banks will have digital currencies by 2030 - BIS surveySome two dozen central banks across emerging and advanced economies are expected to have digital currencies in circulation by the end of the decade, the Bank for International Settlements (BIS) found in a survey published on Monday.
Read more »
She picks through Disneyland trash with one goal: Zero waste by 2030Disneyland’s Environmental Integration team uses food waste studies to find ways to persuade visitors and employees to think about what they throw away and how they can recycle it.
Read more »
New powerful coalition aims to cut number of veteran suicides in half by 2030The Face the Fight Coalition is trying to battle veteran suicide by cutting stigma, increasing conversation, and funding evidence-based organizations already doing good work.
Read more »
EXCLUSIVE: LVMH Announces Major Water Use Reduction TargetAs France faces an unprecedented drought, LVMH Is adding a new component to its “Life 360” global environmental targets to tackle water use. The group has vowed to reduce its water consumption footprint by 30 percent by 2030 across its global activities.
Read more »