Excerpt from weforum.org/agenda
The energy landscape and the transition to a low-carbon future is moving at an extraordinary pace. Different groups and regions will be impacted in varying ways. There will be winners and losers.
Positive impacts include reduction in air pollution, breakthrough technological innovations and new tax revenues from renewables. Negatives include heightened social and environmental stress in communities and regions where energy transition metals (ETMs) are located, loss of jobs from the transition, and lost tax revenues. Integrating an environmental, social and governance (ESG) framework, with an emphasis on social risk from the transition will assist in managing these significant downsides, ensuring a more speedy and just transition.
A low-carbon future
A 2020 World Bank report states that: “A low-carbon future will be very mineral intensive because clean energy technologies need more materials than fossil fuel-based electricity generation technologies. Greater ambition on climate change goals, as outlined by the Paris Agreement, requires installing more of these technologies and will therefore lead to a larger material footprint.”