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To meet growing demand for decarbonization, more than $1 trillion will need to be invested over the next 15 years in key energy transition metals (aluminum, cobalt, copper, nickel and lithium), double the amount invested in the past 15 years
, Wood Mackenzie said in a new report.
Wood Mackenzie noted that despite efforts to slow climate change this year due to the coronavirus pandemic, governments around the world are still using stimulus packages to kick-start or accelerate the decarbonization process
.
Julian Kettle, deputy director of metals and mining at the institute, said: "One can argue about the speed and scale of the energy transition, but there is no doubt
about the criticality of metals to its realization.
Simply put, to transmit or store low-carbon/carbon-free energy, you need aluminum, cobalt, copper, nickel and lithium
.
”
Kettle said fundamentals for several metals are deteriorating, with prices in most metals well below long-term incentive levels because investors don't believe the path to recovery is guaranteed
.
"The procurement and generation of green energy is at the forefront of the day, and portfolios must now be optimised on any board agenda
.
"
To meet growing demand for decarbonization, more than $1 trillion will need to be invested over the next 15 years in key energy transition metals (aluminum, cobalt, copper, nickel and lithium), double the amount invested in the past 15 years
, Wood Mackenzie said in a new report.
Wood Mackenzie noted that despite efforts to slow climate change this year due to the coronavirus pandemic, governments around the world are still using stimulus packages to kick-start or accelerate the decarbonization process
.
Julian Kettle, deputy director of metals and mining at the institute, said: "One can argue about the speed and scale of the energy transition, but there is no doubt
about the criticality of metals to its realization.
Simply put, to transmit or store low-carbon/carbon-free energy, you need aluminum, cobalt, copper, nickel and lithium
.
”
Kettle said fundamentals for several metals are deteriorating, with prices in most metals well below long-term incentive levels because investors don't believe the path to recovery is guaranteed
.
"The procurement and generation of green energy is at the forefront of the day, and portfolios must now be optimised on any board agenda
.
"
