世界经济论坛-为能源转型确保矿产安全（英）

IncollaborationwithMcKinsey&

CompanySecuring

Minerals

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23Images:GettyImagesContentsExecutivesummary34Introduction:Energytransitionisatriskofcriticalmineralsundersupply1

Riskcharacterization2

Addressingtherisks3

Theneedforglobalcollaboration4

ThemesforcollaborativeactionConclusion681011131416ContributorsEndnotesDisclaimerThisdocumentispublishedbytheWorldEconomicForumasacontributiontoaproject,insightareaorinteraction.Thefindings,interpretationsandconclusionsexpressedhereinarearesultofacollaborativeprocessfacilitatedandendorsedbytheWorldEconomicForumbutwhoseresultsdonotnecessarilyrepresenttheviewsoftheWorldEconomicForum,northeentiretyofitsMembers,Partnersorotherstakeholders.©2023WorldEconomicForum.Allrightsreserved.Nopartofthispublicationmaybereproducedortransmittedinanyformorbyanymeans,includingphotocopyingandrecording,orbyanyinformationstorageandretrievalsystem.SecuringMineralsfortheEnergyTransition2December2023SecuringMineralsfortheEnergyTransitionExecutivesummaryTheworldisonanambitiouspathtodecarbonizeandachievenet-zeroemissions.However,

criticalmineralsessentialforkeyemissions-reductiontechnologiesmaybeinshortsupplyby2030.intensity;mobilizeinvestment;leveragealternativefinancing;increasedatatransparency;addresspriceuncertainty;increasevalue-addforlocalcommunities;encouragedialogueonpolicydesign;accelerateinnovation;addresslackofconsistencyamongmining-relatedenvironmental,socialandgovernance(ESG)standards;andstreamlineminingprojects’approval.Theyareessentialforcreatingamoreresilientandsustainableminingindustrythatcanmeetthegrowingdemandforcriticalmineralsinaresponsibleandequitablemanner.Historicalunderinvestmentinminingandexploration,aswellassupplychaindisruptions,arealreadycreatingdemand-supplygaps.Soarelengthyleadtimesbetweenexplorationandproduction,ontopofthefactthatoftenthesemineralshavecomplexorebodies,makingthemdifficultandcostlytoextract.Ifcurrenttrendshold,manyminerals’supplymayfallshortofdemandby2030,potentiallyjeopardizingshort-termclimategoalsanddrivingfurtherpricevolatility.Effectiveriskmanagementrequiresstakeholderstocollectivelyreduceandadapttosupply-chainrisks.Globalcollaborationcanraiseawarenessanddriveactiontotacklethedisparityinthesupplyanddemandofcriticalminerals.Onthecontrary,isolatedeffortsbygovernments,theprivatesectorandnon-profitorganizationsareunlikelytoaddresstheenergytransitionchallenge.Collaborationisnecessarytounifyefforts,mitigateregionalimbalancesandensuresufficientandequitablesupplyofcriticalminerals.Itiscrucialtoidentifyandunderstandkeysupply-chainriskstomanagetheminerals-relatedobstaclesfortheenergytransition.Two

typesofrisksareassociatedwiththesupply-demandgapofcriticalminerals:(i)risksassociatedwiththeinabilitytoclosethesupply-demandgapand(ii)risksassociatedwiththeeffortstoclosethesupply-demandgap.Bothcouldsignificantlydelaytheenergytransition.Theserisksthreatentodisruptthesupplychainbeyondtheminingandmetalsindustry,delaytheenergytransition,andhavedeleterioussocialandenvironmentaloutcomes.Thekeythemesforglobalcollaborationincludefacilitatingpolicydialogue,supportinginvestmentmobilization,acceleratinginnovation,evaluatinggapsinexistingESGstandards,andbuildingcapabilitiesacrossthevaluechain.Thisreportdivesintothecriticalroleofthreeprioritycollaborativeactions–facilitatingpolicydialogue,supportinginvestmentmobilizationandacceleratinginnovation.Thisreportidentifies10high-priorityriskmanagementstrategiesforthesekeyminerals.Thesestrategiesaredesignedto:reduceresourceSecuringMineralsfortheEnergyTransition3IntroductionAsclimateambitionrisesgloballyandtheenergytransitionaccelerates,thesupplyofcriticalmineralsisexpectedtofallshortofdemandby2030.Theworldhasembarkedonanambitiousdecarbonizationjourneytowardsnet-zeroemissionstargets.Thistransitionwillrequirefundamentaltechnologyshiftsacrossindustriesatanunprecedentedspeed.Eachofthekeylow-carbonabatementtechnologiesandenergysolutionsreliesonmineralsandmetals,andtheconsumptionoftheserawmaterialsissettowitnessasignificantincreaseoverthenextdecade.Undercurrentprojections,thesupplyofcriticalcommoditiesisexpectedtobeinsufficienttomeettherisingdemand.Theconsumptionofmineralsandmetalscomesinahistoricalcontextofunderinvestmentinmineralexplorationandmining.Inthelast10years,theratioofglobalcapitalexpendituretorevenuedecreasedtolessthan10%comparedto15%inthepreviousdecade.

Moreover,

theminingsupplychainfaced1increasingchallenges,suchascomplexorebodies,decreasinggradesaswellasdisruptions.Thesechallenges,aswellaslongleadtimesbetweenexplorationandmineralproductionthatcannoteasilybecompressed,makeitdifficulttospeedupdevelopment.Withoutfurtheraction,thesupplyofcommoditiessuchascopper,

nickel,lithium,cobaltandrareearthelements(REEs)maynotbeAccordingtotheInternational

EnergyAgency(IEA)’sAnnouncedPledgesScenario,demandforcriticalmineralsforcleanenergytechnologieswillgrow

morethantwo-foldby2030.Cleanerenergyinfrastructure,suchaswindpowerandbatteryelectricvehicles(BEVs)thatusemorecriticalmineralcomponentsthanthelegacyenergyinfrastructure,willdependonthesupplyofcriticalminerals.sufficienttomeetthe2030demand(Figure1).2FIGURE1

Anticipatedsupply-demandgapundertheIEA’s

AnnouncedPledgesScenarioCopperLithium+8%35302520151057006005004003002001000+6%02030supply*AnnouncedPledgesScenariodemand**Netzeroemissionsby2050scenario2030supply*AnnouncedPledgesScenariodemand**Netzeroemissionsby2050scenarioNickelCobalt-16%635030025020015010050+6%54321002030supply*AnnouncedPledgesScenariodemand**Netzeroemissionsby2050scenarioAnnouncedPledgesScenariodemand**Netzeroemissionsby2050scenario2030supply*Supply-demandgapinanAnnouncedPledgesScenario.Note:*Expectedsupplyby2030atcurrentpaceofproduction;**Expecteddemandin2030underAnnouncedPledgesScenario.Source:IEA,CriticalMineralsMarketReview2023.Shortageswouldleadtosignificantpricespikesandvolatilityacrossminerals,whichinturnwouldmakethekeytechnologiesmoreexpensive.–Sustainability:Anenergysystemthatisconsumption-consciousanddecarbonized,supportingtheambitionofacleanerandlesspollutedearthforcurrentandfuturegenerations.Inthecomingdecades,itwillbecrucialtosecureareliablesupplyofenergy-transitionmineralstosupportthethreedimensionsoftheenergytriangle:TheWorld

EconomicForum’s

SecuringMineralsfortheEnergyTransition

(SMET)initiativehasbeenworkingonidentifyingtherisksthatwillemergeifcriticalminerals’supplylagsdemand,andformulatingpriorityriskmanagementstrategies(Box1).Theinitiativehasalsobeenfocused

on

building

collaboration

and

connectionsbetweenrelevant

stakeholderstoswiftlymobilizeactionandraiseawareness

toaddress

thesupply-demandimbalance.–Security:

A

reliable,

uninterruptedandevolvingenergysystemthatcanwithstandandrespond

tosupply-demanddynamicsandrecover

rapidlyfrom

disruptions.–Equity:

An

energy

system

in

which

energy

is

fairlydistributed,accessibleandaffordable;a

systeminwhichsustainabilityinitiatives(andbenefits)aresharedtoenableinclusive,equitableeconomicgrowthandimproved

standardsofliving.BOX1

ObjectivesoftheSMETinitiativeTheSecuringMineralsfortheEnergyTransition(SMET)initiativehastwoobjectives:2.

Conveneglobalstakeholdersinacommonefforttosupportasecure,equitableandsustainablesupplyofmineralsessentialfortheenergytransition.1.

Identifyandcharacterizestrategiesforthecollectivemanagementofrisksfromthesupply-demandgapincriticalmineralsneededintheenergytransition.SMETisaninitiativeoftheWorldEconomicForuminpartnershipwithMcKinsey&Companyastheknowledgepartner,

andadiversegroupofinternationalandprivatesectororganizations.SecuringMineralsfortheEnergyTransition5Riskcharacterization1Identifyingandunderstandingkeyrisksacross

multipledimensionsiscrucialtomanagepotentialobstaclesfortheenergytransition.Two

typesofrisksareevident:(i)risksassociatedwiththeinabilitytoclosethesupply-demandgap,and(ii)risksassociatedwitheffortstoclosethesupply-demandgap,bothofwhichthreatentosignificantlydelaytheenergytransition.TheSMETinitiativehasexploredecosystemrisks,namely,risksnotonlytotheprimarystakeholdersinthevaluechain(suchasrawmineralsuppliers,technologyproducers,originalequipmentmanufacturers(OEMs)andintermediaries)butalsosecondarystakeholders(includingconsumers,governments

andthewidersocietyandtheenvironment).ontheirpotentialimpactontheecosystemandthelikelihoodoftheiroccurrence.Althoughseveralriskscouldaffecttheecosystem,onlythemostrelevantoneswereconsideredfortheprioritylist.Thesepriorityrisksspanfivecategories,choseninlinewiththePESTELframework,

considering3political,economic,social,technologicalandenvironmentalriskdimensions.Forlikelihoodtohappen,“low”representedariskthatisnotlikelytohappenand“extremelyhigh”ariskthatisverylikelytooccur.

Forimpactontheecosystem,“low”representedaminorimpactand“extremelyhigh”representedacatastrophicimpactonhumanlivesorsociety.Therisksarelikelytodifferacrossgeographiesandtime.ThemainrisksidentifiedandscoredaresummarizedinFigure2,acrossthelikelihood-impactmatrix.TheSMETinitiativehasidentifiedandprioritizedtheserisksthroughworkshopswithadiversegroupof

stakeholders,

including

international

organizationsandprivatesectorcompaniesfromacrossthevaluechain.TheparticipantsassessedtherisksbasedFIGURE2

EcosystemrisksfromthesupplydemandimbalanceofcriticalmaterialsImpact1CatastrophicclimateeventsDelayoftheenergytransitionExtremelyhighLackofpoliticalwillfortheenergytransitionConflictoverresourcesJoblossesincaseReputationaldamageforenergytransitionHigher

environmental

pressure

onecosystems

and

waste

generationofmaterialsshortageESGtargetsbecomingunattainableHigherdemandforresourcesfromincreasedminingBacklashinadoptingnewtechnologiesIncreasingresourcenationalismReducedresponsibleminingHighCascadingrenewabletechnologyshortagesIncreasingtradefragmentationLackofaccesstocapitaltoaddresstheimbalanceMarketvolatilityanduncertaintySupplychainfragmentationIncreaseinartisanalandillegalminingRisingnewtechnologypricesResourcesusedforclimatechangeadaptationinsteadofmitigationSetbacksinsocio-economicLowincentivesfornewminingprojectsLoweracceptanceofminingprojectsUncoordinatedlandusedevelopmentinproducingcountriesforcedtoleapfrogtraditionalformoreexpensivetechnologiesRegulatoryracetotheStockpilingofcriticalmineralsReducedaccesstoenergyandtransportservicesbottomasinvestmentflowstocountrieswithlowerESGstandardsGeopoliticalrisksdisruptingmaterialsvaluechainsPressuresinsubstitutematerialsupplychainsMediumIncreasedworkforcepressureforproductivityoverwell-beingLowLikelihood2LowMediumHighExtremelyhighSecondaryrisk(cannotbedirectlyaddressedinthevaluechain).Highestlikelihoodandimpactrisks.PoliticalEconomicSocialTechnological

EnvironmentalNote:1.Impactontheecosystem:“Low”representsminorimpactand“Extremelyhigh”representscatastrophicimpactonhumanlives,societiesandtheplanet.2.Likelihoodtohappen:“Low”representsariskthatisnotlikelytocometopassand“Extremelyhigh”ariskthatisverylikelytooccur.Source:Riskidentificationbasedoninsightsfromriskcharacterizationworkshop,“SecuringMineralsfortheEnergyTransition”,andMcKinseyanalysis.AssessmentstructurefromWorldEconomicForumGlobalRisksReport2017.Therisksidentifiedintheworkshoparerenamedandplacedinthematrixbasedontheassessment.Addressing

therisks2Effectiveriskmanagementnecessitatesconcertedeffortsbyallstakeholderstocollectivelyreduceandadapttorisks.Properriskmitigationneedscoordinated

efforts.Riskmanagementstrategiesmustproactivelyidentify,assessandmitigatesupply-demandimbalances,ensuringa

smootherandmore

resilienttransitiontowardsa

sustainableenergyfuture.Whileeffortsare

currentlyontomanagesupplyrisksacrosskeygeographiesandminerals,more

coordinatedactionisneededandatanacceleratedpace.canbeleveragedbylocalgovernmentsandindustryleaderstoincreasetransparency,reducerisksandenhanceclimatefinancereadiness.Examplesofalternativefinancinginstrumentsincludeconcessionalandblendedfinance,impactinvestingandgreenbonds.4.

Increasedatatransparencyonsupplyanddemand.Thetop10high-prioritystrategiesselectedforimplementationare:Improveddatatransparencyintheminingindustryandcriticalmineralsupplychainscanhelpstakeholdersmakewell-informeddecisionstosecurecriticalminerals.Sharingaccurateandup-to-dateinformationonsupplyanddemanddynamicscanenablestakeholderstotakeproactivemeasuresthataddresspotentialshortagesorexcessesofcriticalminerals.Thiscanincludemineraltrackingsystemsthroughoutthesupplychaintopredictfuturedemandtrends.Collaborativeplatformsforsharingglobalandnationaldemanddataformineralscanalsoincreasetransparency.1.

Decrease

theresource

intensityofminingactivitieswhileimproving

resourceefficiencyandreuse.Theenvironmentalimpactofminingoperationscanbereducedbyadoptingmoresustainablepracticesthatminimizetheconsumptionofnaturalresourcessuchasmineralsandwater.This

involves

employing

efficienttechnologies

andimplementingclosed-loopsystemstoextract,processandreuseminerals.Someexamplesincludeadoptingcircularitymodelssuchasurbanmining(e.g.extractingcriticalmineralslikeREEsfromend-of-lifeelectronics),

reducingwastebyextractingmore

from

lower-quality

ores

throughleachingtechnologies,andthecreationofa5.

Address

priceuncertaintydueto

limitedinformation.Thecreationofstabletradingrelationshipscanaddresspriceuncertainty.Stakeholderscanusefinancialinstrumentslikehedgingstrategies,orexplorelong-termcontractstoprovidegreaterpricestabilityforbothproducersandconsumers.Further,

thereisaneedforpricetransparencymeasuressuchasfacilitatinggreateruseofspotpricingtransactions,particularlyinthosemineralmarketswheretheinformationiscoveredinlong-term,undisclosedcommercialagreementsandofftakecontractsbetweenbuyersandsellers.secondarymarketforcriticalminerals.42.

Mobilize

international

privateandinstitutional

investmentforthe

transition.Investment

from

privateandinstitutionalsources

can

increase

thesupply

of

criticalmineralstosupportthetransition.Withoutsufficient

financing,technological

innovationsthat

facilitateexploration,mining

productivityandefficiency,

and

processing

and

recyclingprocesses,

are

unlikely

to

bridgethesupply-demandgap

for

criticalminerals.Further

investmentscanbe

encouraged

byinstitutionalizing

ESG

principlesin

foreigninvestmentsand

through

digitalplatformsthat

connect

responsible

investors

toresponsible

projects.6.

Increase

value-addforlocalcommunities.Miningcompaniescantakestepstoreducetheimpactthatlanduse,extractionandpollutionhaveonnature,whileincreasingthesocio-economicbenefitsoftheirprojects.Whenbeginningnewprojectsandexpandingcurrentoperations,miningcompaniescanfostersustainabledevelopmentthroughjobsandskillscreation,localdevelopmentandthepromotionofequalityandinclusion.Thiswillrequirecollaborationbetweencompaniesandgovernmentstoidentifystrategicprioritiesforlocalsocio-economicdevelopment.3.

Leverage

alternative

financing

instrumentsin

challengingmarkets.5Alternativefinancinginstruments(i.e.financialproductsandservicesthataredesignedtoraisecapitaloutsideoftraditionalchannels)canreduceinvestorrisks,especiallyformarketswithlimitedfinancereadiness.TheseinstrumentsSecuringMineralsfortheEnergyTransition87.

Encouragingdialogueonpolicydesign.Policy-makersmustfosteraconduciveenvironmentforinvestmentinthemineralsneededfortheenergytransitionandtoensureequitableandlong-termaccess.Theymustconsidertheinterconnectednessofenvironmental,socialandeconomicfactorswhenformulatingregulations.Aholistic,global-levelcollaborationandpolicydiscussionbetweengovernmentsandpublicandprivatesectororganizationsisessential.9.

Address

thelack

of

consistencyamongminingESG

standards.HarmonizedregionalandinternationalminingESGstandardscanhelpcreatealevelplayingfieldforcompanies.To

achievethis,itisimportanttoharmonizeexistingframeworkstoremoveroadblocksinESGperformance,reportingandtracking.Thesestandardswillpromoteresponsiblemining,enhancethetransparencyofESGmetricsandensurethatenvironmentalandsocialimpactsaremanagedconsistentlyacrossjurisdictions.Thismayreducemonitoringcostsandincreasetrustthroughoutthevaluechain.8.

Acceleratethepace

ofinnovation.Innovationintechnologiesandpracticescaneitherreducethedemandforacriticalmineralatitsenduseorincreaseitssupplybypromotingefficiencyinproductionthroughoutthevaluechain.Researchanddevelopment,aswellascollaborationbetweenacademiaandindustry,candrivetheadoptionofcutting-edgetechnologiesandmethodsthatcanhelpreducebothcurrentandfutureshortages.Recognitionplatformsoracceleratorprogrammescanhelpincentivize,promoteandscaleinnovationsthroughoutthevaluechain.10.

Streamlineandde-riskprocessesforapprovalandgovernance

ofminingprojects.Effortstothisendcanreduceleadtimesandstrengthensupply.Modernized

andstandardizedpermitandapproval

procedureslikea

single-windowsystem,onlinesubmissionplatforms,digitalrecord-keepingandreal-timetrackingcanstreamline

approvals.

Moreover,enhancingthegovernance

andoversightofminingprojectscanensurecompliancewithregulations.Theneedforglobalcollaboration3Worldwidecollaborationcanraiseawarenessandreducedisparityinthesupplyanddemandofcriticalminerals.Globalcollaboration,withthe

participationof

multiplestakeholdersincludingregulators,

non-profits,researchers,

industryassociationsand

financiers,

isessential

toovercome

theenergy

transitionchallenge.inclusion.Thesefragmentationsmayexacerbateregionalimbalancesanddisparitiesinaccesstothesecrucialresources.

Hence,aglobal6collaborativeeffortisneededforcollectiveaction.7TheSMETcommunitycollaboratedwithleadersfromover15initiativestoanalysethecoverageofexistingefforts

relatedtomineralsfortheenergytransition.Thisanalysisshowedthatmostoftheinitiativesdonotencompassalldimensionsoftheenergytriangle,namelysecurity,equityandsustainability.A

collaborativeeffort

canenablekeyactorstodiscussgaps,risks,solutionsaswellasgoodpracticesandbenefitfrom

keyinitiativesbeingundertakenbydifferent

institutions.Further,

acollaborativegroup

canidentifygapsandprioritizetopicsandpotentialactionsintherelevantspaceswhileconveningstakeholdersregularlytofosterdialogue.Connectingactorstoraiseawareness

around

keythemeswillcontributetoa

more

comprehensive

understandingoftheoveralllandscapeandraisetheurgencytotakemeaningfulaction.Theabsenceofaunifiedefforttobridgethesupply-demandgapmayresultinfragmentationacrossthecriticalmineralvaluechainforESGfactors,suchasgreenhousegas(GHG)emissions,landuseandpollution,waterusageandcontamination,biodiversitylossandthepromotionofequalityandThemesfor4collaborativeactionSMEThasprioritizedthemesforactiontofacilitateglobalcollaboration.TheSMETcommunityidentifiedkeythemesforactionfromexpertinterviewsandconsultationswithpublicandprivatestakeholdersfromthecriticalmineralsvaluechains.Assessedwithrespecttotheircoveragebyexistinginitiativesandtheirimportanceinfacilitatingthemineralstransition,thefivehighest-scoringthemesforcollaborativeactiontoimproveuponthecoverageofexistinginitiativesare:discrepancies

throughmoderateddialogue.Manyoftheseforumsalreadyexist.Forinstance,theEuropeanRawMaterialsAlliance(ERMA)

bringstogetherstakeholdersfromindustry,academiaandgovernment

toanalysepoliciesandtodeveloprecommendationsforthesecurityofthestakeholders’accesstorawmaterials.Similarly,theInternational

RenewableEnergyAgency(IRENA)hasconvenedmembersforitsCollaborativeFrameworkonCriticalMaterialsfortheEnergyTransition.1091.

Facilitatepolicydialogue:Supportanenablingenvironmentforpolicydialogueamongstakeholdersandsignpostpolicyforbusinessestoreduceroadblockstotheavailabilityofmineralsneededfortheenergytransition.Policysignpostscanprovideincreasedvisibilitytoinvestors,reducingfrictionsinthemarketbyguidingbusinessesthroughanevolvingregulatorylandscape.Thesesignpostsrefertoindicatorsorsignalsthatsuggestthedirectionofgovernmentpolicyoncriticalminerals.Investorscanusethesetomonitorandpredicttheimplicationsofnewregulations,whichmayreducepolicy-inducedmarketfluctuations.Focusgroupdiscussionsinvolvingrepresentativesfrombothprivateandpublicsectororganizationsareausefultool,aidingbusinessesinnavigatingcomplexpolicyenvironmentsmoreeffectively.Regularnewslettersandothercommunicationtoolscankeep2.

Supportinvestmentmobilization:Understandinvestmentneedsacrossthecriticalmineralsvaluechainsandmobilizeinvestmenttobridgethesupply-demandgap.3.

Accelerateinnovation:Spurprivate-sectorinnovationbyidentifyingnewtechnologiesandsystematicinnovationsforscalingup.4.

EvaluategapsincurrentESGstandards:StreamlineexistingESGframeworksbyconnectingvoluntarystandardsgroupswithinternationalstandardsbodies.businessesupdatedonrecentpolicydevelopmentsandimplications.Finally,effortstode-riskapprovalsandgovernanceinminingprojectscanimprovethesupplyofcriticalminerals.Bestpracticescanbeappliedtostreamlinepermitandapprovalprocesses.Additionally,cleargovernanceguidancespecifictominingprojectscanbeestablished,outliningrolesandresponsibilitiesforallstakeholders.Suchmeasurescanensurecompliancewithregulations,socialresponsibilitiesandsafetystandards,whilereducingconflictsanddisruptions.5.

Buildskillsacrossthevaluechain:Analysegapsandopportunitiesintheneedsforskillsandbuildcapabilitiesacrossthevaluechain.FacilitatepolicydialoguePolicyanalysiscanfacilitatedialoguebyprovidingstakeholderswiththeevidenceandinsightstheyneedtomakeinformeddecisions.Taxonomies

offera

foundationforanalysisbytrackingandorganizingregionalpolicies

based

on

their

purpose,

method

andoutcomes.Whilemuchhasbeendonetofacilitatepolicyanalysisata

globallevel,suchastheIEA’sSupportinvestmentmobilizationCurrentinvestmentformanycriticalmineralsfallsshortofwhatisneededtosupportanaccelerateddeploymentofemissionsreductiontechnologies.Thelackofinformationonriskscandissuadeinvestmentsintocriticalminerals’valuechains.Further,

thelong-termnatureofmininginvestments,oftenrequiringadecadeforreturns,maybeincompatiblewiththeshort-termfocusoffinancialmarkets,hinderingprivateinvestmentsinmining.CriticalMineralPolicyTracker,

moreisneededatthe8regionalleveltoaddresslocalizedsupplyrisks.Openpolicydialoguecanfacilitateconversationsbetweenthepublicandprivatesectorsonthebestpracticesforsecuringaccesstocriticalminerals.RegionalforumscanalsoprovideavenueforstakeholderstodiscussrisksandpolicySecuringMineralsfortheEnergyTransition

11AccelerateinnovationThisisespeciallytrueinthelowcommoditypricesenvironment.Collaborativeinitiativestoanalyseinvestmentneedsandwaysofde-riskinginvestmentsarecrucial.Withouteffortstoscaleupinvestmentanalytics,stakeholdersmaybeunabletoidentifyhowtooptimallyinvestintechnologyinnovation,recyclingandsupplychainresilience.Thecollectiveeffortmayincludegapanalysesthatcancomparesupplychainperformanceagainstdemand,identifyareasofimprovementanddeterminehowstakeholderscanallocateresourceseffectively.Further,

collectiveactioncanreduceandadapttovariouseconomicrisksacrossthevaluechaintoensureoptimalinvestmentlevels.Innovationisessentialtobridgingtheimpendingsupply-demandgapforcriticalminerals.Businessesmustidentifypriorityareas,andthendeployandamplifytheappropriatetechnologicalandothersolutions.Onthedemandside,it’s

possibletoreducerelianceoncriticalmineralsbyexploringmineralsubstitutionoptionswithinexistingtechnologies,suchasusinglithium-iron-phosphatebatteriesinsteadofnickel-cobalt-aluminumbatteries.Onthesupplyside,it’