The global shift to clean energy is going to drive an unprecedented boom for critical minerals, according to the International Energy Agency (IEA), raising questions of supply and the overall environmental cost
(AF) Until the mid-2010s, the energy sector represented a small part of total demand for most minerals, the IEA noted in a new report. However, as energy transitions gather pace, clean energy technologies are becoming the fastest-growing segment of demand. The rise of low-carbon power generation to meet climate goals would mean a tripling of mineral demand from this sector by 2040.
“The shift to a clean energy system is set to drive a huge increase in the requirements for these minerals, meaning that the energy sector is emerging as a major force in mineral markets,” the agency said in the report, “The Role of Critical Minerals in Clean Energy Transitions”.