Climate Policy Outlook: Critical Mineral Prices Are About to Surge Without Policy Intervention
This week's most important climate policy stories.
Greenbiz 4:43 pm on May 20, 2024
The International Energy Agency (IEA) warns of imminent surges in critical mineral prices crucial for energy transition due to insufficient supply, with market size potentially doubling by 204. The report also highlights potential policy impact on $1 trillion low-carbon investments under a second Trump administration and Ontario's Bill 198 aiming at climate resilience despite conservative opposition in Parliament.
- Critical Mineral Price Surge: IEA predicts significant price increases for key minerals essential to renewable energy, with supply unable to meet rising demand.
- Policy Impact on Investments: A second Trump term could reduce $1 trillion in planned low-carbon investment and increase carbon emissions by 1 billion tons over the next two decades.
- Canadian Bill 198: Ontario's proposed climate bill seeks enhanced resilience against disasters but faces challenges in a conservative-majority Parliament.
- Infrastructure Investment Needs: The legislation suggests greater infrastructural commitments, particularly to support food industry adaptations during extreme weather events.
- Industry Analysis and Foresight: Wood Mackenzie's analysis indicates the critical role of policy decisions in shaping future investment trends within renewable energy sectors.
https://www.greenbiz.com/article/climate-policy-outlook-critical-mineral-prices-are-about-surge-without-policy-intervention