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illuminem summarizes for you the essential news of the day. Read the full piece on World Economic Forum or enjoy below:
🗞️ Driving the news: The fragmented and incomplete state of global data on critical materials, essential for renewable energy technologies, threatens the progress of the energy transition
• A proposed global repository, METRIC, would centralize data on extraction, trade, and recycling of minerals like lithium and cobalt to enhance transparency and supply chain stability
• Without such a system, the renewable energy industry faces inefficiencies, supply risks, and geopolitical tensions
🔭 The context: Critical materials, such as nickel, copper, and rare earth elements, are foundational to clean energy technologies like solar panels and EV batteries
• Data on these materials often exists in non-standardized formats and is scattered across multiple sources, primarily in OECD countries
• Major producers in Africa and Asia suffer from data gaps, exacerbating supply chain vulnerabilities and slowing policy and investment decisions
🌍 Why it matters for the planet: Improved data accessibility would strengthen global supply chains for critical minerals, expediting the transition to renewable energy and reducing dependence on fossil fuels
• It would also minimize environmental impacts by supporting better recycling practices and optimizing resource use
⏭️ What's next: Building METRIC will require robust international cooperation, standardizing data collection and sharing processes among diverse stakeholders
• Drawing inspiration from successful platforms like the JODI oil data initiative, the repository could serve as a global public good, fostering transparency and supporting clean energy goals
💬 One quote: "Creating a global repository on critical materials is imperative to accelerate renewable energy deployment and mitigate supply chain risks," — Roman Vakulchuk, Head of Climate and Energy Research Group, NUPI
📈 One stat: Data coverage for critical materials like nickel spans 11 sources, while minerals like titanium, tungsten, and vanadium are covered by only one
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