New Report Shows How Critical Minerals Can Drive …

New Report Shows How Critical Minerals Can Drive Global Energy Transition

The World Economic Forum s report, Securing Minerals for the Energy Transition, addresses the urgent need for a stable and sufficient supply of critical minerals to support lower-carbon technologies and global climate goals. Despite the growing demand for minerals like lithium, copper, and rare earth elements, supply shortages pose risks to progress, particularly in developing countries. The report, released in collaboration with McKinsey & Company, identifies three main barriers to securing a stable supply: financial barriers, regulatory and policy barriers, and ESG and data barriers. To overcome these challenges, the report proposes actionable solutions, including targeted policy interventions, cross-sector collaboration, and innovation. Key recommendations include providing financial support for mining projects, streamlining permitting processes, reducing policy complexities, and harmonizing ESG standards. The report emphasizes the importance of multistakeholder collaboration, targeted policy-making, and innovative scalable solutions to ensure a sustainable clean energy future for all. In conclusion, the report highlights the need for collective action and partnerships among governments, the private sector, impact start-ups, international organizations, and local communities to secure a sustainable, affordable, and equitable supply of critical minerals. This will enable the economic deployment of at-scale low-carbon technologies and address availability, affordability, and sustainability of supply for the long-term.

Source: eurasiareview.com
Published on 2024-09-23

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