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Energy transition faces metals gap unless investment rises, report finds

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Rapid demand growth as a result of the energy transition could lead to a shortage of several metals in the next decade unless investment is increased, a global group of energy producers, consumers and financial institutions said.

Large supply gaps for lithium, nickel, graphite, cobalt, neodymium and copper could lead to higher prices and delay the goal of reaching net-zero emissions by 2050, the Energy Transitions Commission said in a report.

"In some key minerals - particularly lithium and copper - it will be challenging to scale up supply fast enough over the next decade to keep pace with rapidly rising demand," ETC Chair Adair Turner said in the report. "Governments, regulators, producers and consumers must work together to increase recycling, improve material efficiency, invest in new mining, and regulate environmental and social standards," Turner said.

 

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