The cost of the globalist green agenda is continuing to skyrocket, with taxpayers around the world expected to pick up the bill.
BloombergNEF’s (BNEF’s) annual Transition Metals Outlook finds that there are still insufficient raw materials to meet growing demand, despite the growth in metals supply over the last decade.
This supply squeeze could slow the adoption of clean energy technologies.
To meet the demands of the World Economic Forum’s (WEF) “Net Zero” agenda, BNEF estimates that $2.1 trillion is needed in new mining investments by 2050.
The report indicates that key energy transition metals such as aluminum, copper, and lithium could face deficits in primary supply this decade.
However, some could face deficits as soon as this year.
The BNEF’s Economic Transition Scenario (ETS) is driven by the cost competitiveness of technologies and assumes no new policy support.
According to the ETS, the world could require 3 billion metric tons of metals between 2024 and 2050 to properly build out low-carbon solutions such as electric vehicles, wind turbines, and electrolyzers.
That figure rises to 6 billion tons to comply with the WEF’s “Net Zero” target in 2050.
Kwasi Ampofo, head of metals and mining at BNEF and lead author of the report said:
“The prolonged deficit of these metals will lead to higher prices for raw materials, which increases the cost of clean energy technologies.
“High costs could slow their adoption, and the energy transition at large”.
Recycling could help ease the pressure, however.
The BNEF is expecting output from secondary sources to become an integral part of the supply chain for energy transition metals.
It has the added benefit of lowering the lifecycle emissions of supply.
According to Allan Ray Restauro, a metals and mining associate at BNEF:
“Good government policies are crucial to the industry’s success.
“For batteries and stationary storage, governments need to establish collection networks, set the requirements for recovery rates, develop the frameworks to trace individual cells, and provide the principles on second-life battery management.
“These actions can build a robust system that oversees the full lifecycle of battery metals.”
The pace of demand growth will vary across regions.
In China, for example, consumption outgrew the global average between 2020 and 2023, but the country’s use of energy transition metals is expected to peak in 2030.
Southeast Asia is seen becoming the fastest-growing market for energy transition metals in the 2030s, according to BNEF’s ETS.
Adding value to the region’s large-scale upstream mining industry, to meet this demand, could accelerate its industrialization, while also contributing to lowering global emissions.
Meanwhile, globalists are pushing for the taxpayers who will be funding the agenda to be stripped of more freedoms to su[posedly tackle “global warming.”
As Slay News recently reported, President Joe Biden’s former “climate czar” John Kerry has made a chilling demand to force the general public into complying with the globalist green agenda.
Kerry is demanding that a “climate emergency” be declared in order to “get people to behave.”
According to Kerry, the public must “behave” by complying with the “climate change” narratives promoted by himself and his allies in the unelected United Nations (UN) and World Economic Forum (WEF).
WATCH: Click on the 'text' at the top of the video block to view.... "John Kerry Demands 'Climate Emergency' to Force 'People to Behave' "
Kerry, who stepped down as Special Presidential Envoy for Climate in March to work on Biden’s doomed re-election campaign, is listed as an “agenda contributor” at the WEF.
He was also one of the architects of the UN’s Paris Climate Agreement.
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