Minerals for Climate Action

In 2017, the World Bank published The Growing Role of Minerals and Metals for a Low Carbon Future, concluding that a low-carbon future will not be possible without minerals. This report makes that case even stronger, but with a new emphasis on how technology improvements and recycling could impact mineral demand up to 2050. For the first time, the global warming potential of different low-carbon technologies were analyzed in comparison with fossil-fuel-based energy systems. The authors also present a new framework to capture the risks associated with the demand for specific critical minerals. This report intends to provide policy makers, mineral producers, renewable energy developers, climate negotiators, and civil society organizations with a data-driven understanding of how the shift to a cleaner energy system could impact mineral demand. It also provides a forward-looking outlook on the actions each stakeholder can take to minimize the carbon and material footprints of such a significant shift. While the mineral intensity of renewable energy has its challenges, our research shows that, even if low-carbon technologies are more mineral intensive, they only account for a fraction (6 percent) of emissions generated by fossil fuel technologies. This means that the deployment of renewable energy is essential in helping us meet the Paris Agreement, even if it means that more minerals will be needed to get there. To address these challenges, the World Bank launched the Climate-Smart Mining Initiative to ensure that minerals for the clean energy transition are produced and supplied sustainably and responsibly, while enabling developing countries to benefit from this seismic shift. The goal is to ensure that mineral-rich developing countries are well prepared to meet this growing demand with the smallest possible carbon footprint, while safeguarding the environment and people.

Bibliographic Details

Main Authors:	Hund, Kirsten, La Porta, Daniele, Fabregas , Thao P, Laing, Tim, Drexhage, John
Format:	Report biblioteca
Language:	English en_US
Published:	Washington, DC: World Bank 2023-05-24
Subjects:	CLEAN ENERGY, TRANSITION, LOW-CARBON, MINERALS, PARIS AGREEMENT,
Online Access:	http://documents.worldbank.org/curated/en/099052423172525564/P16627806f5aa400508f8c0bdcba0878a3e https://openknowledge.worldbank.org/handle/10986/40002
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