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A recent report by Fitch Ratings assessing the risks of climate change to various sectors contains two charts that vividly illustrate the impact
of core metals and mining on decarbonization.
The latest UN forecast policy scenario projects a significant increase
in electricity generation from renewables, including hydro, wind and solar, across all regions.
By 2050, renewables will be the world's largest source of electricity, accounting for 73% of the total, up from 25%
in 2020.
By 2050, the share of wind and solar in global renewable energy generation will increase from 34% in 2020 to 85%.
Coupled with the metal strength of renewables, it's clear that even if the installed capacity of renewables is much lower than expected, the impact on the metals and mining industry will be enormous
.
In 2019, mining information agency MINING.
COM warned that "the exponential expansion of the global mining industry is a blind spot
for Green New Deal communicators and zero-carbon climate warriors.
" ”
Yet, nearly three years later, climate crisis actors still acknowledge little or no need for rapidly growing metal and mineral extraction
.
The ignorance of climate scientists on mining remains alarming, even as UN Secretary-General Antonio Guterres said at the opening of the COP26 summit: "Burning, drilling and digging are sabotaging our plans, in other words, we are digging our own graves
.
" ”
A recent report by Fitch Ratings assessing the risks of climate change to various sectors contains two charts that vividly illustrate the impact
of core metals and mining on decarbonization.
The latest UN forecast policy scenario projects a significant increase
in electricity generation from renewables, including hydro, wind and solar, across all regions.
By 2050, renewables will be the world's largest source of electricity, accounting for 73% of the total, up from 25%
in 2020.
By 2050, the share of wind and solar in global renewable energy generation will increase from 34% in 2020 to 85%.
Coupled with the metal strength of renewables, it's clear that even if the installed capacity of renewables is much lower than expected, the impact on the metals and mining industry will be enormous
.
In 2019, mining information agency MINING.
COM warned that "the exponential expansion of the global mining industry is a blind spot
for Green New Deal communicators and zero-carbon climate warriors.
" ”
Yet, nearly three years later, climate crisis actors still acknowledge little or no need for rapidly growing metal and mineral extraction
.
The ignorance of climate scientists on mining remains alarming, even as UN Secretary-General Antonio Guterres said at the opening of the COP26 summit: "Burning, drilling and digging are sabotaging our plans, in other words, we are digging our own graves
.
" ”
