THE CLOCK IS TICKING
World leaders converge to COP28 as China restricts critical materials exports
This week marks the opening of COP28, the United Nation's 2023 Climate Change Conference, which will focus on the phasing out of fossil fuels, among key international priorities. Countries are expected to rally for the accelerated deployment of renewable energies and energy efficiency measures, as existing governmental and political commitments fall short of meeting the Paris Agreement pledge to limit the global warming increase to 2 degrees.
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Global GHG emissions scenarios up to 2050 as tracked by the International Energy Agency
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Coinciding with the start of COP28 are China's graphite export restrictions coming to effect on December 1, 2023, requiring Chinese companies to have a government-issued export permit to sell certain graphite products to Western entities. As graphite is a crucial component of all lithium-ion battery technologies and hydrogen fuel cells, this new measure is pressing cleantech manufacturers worldwide to secure volumes and commercial agreements with graphite suppliers outside China.
Needless to say, these new measures have significant implications for renewable energy progress. With China accounting for over 60% of the world's production of natural graphite and 99% of spherical graphite for battery anode material, these recent actions signal a timely reminder of the need for diversified critical materials supply chains.
The current global push to transition to a low-carbon economy involves considerable dependence on critical materials such as graphite, creating important challenges for governments as they work towards meeting their ambitious targets for mitigating climate change. It is becoming clear that the participation of businesses and the civil society is crucial to meet these targets.
We hope COP28 sparks a sense of urgency and purpose in the work that is being done towards a better, greener world.
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Moving towards a cleaner future with NMG
NMG’s business model is climate-oriented by design. We focus on the energy revolution market while integrating the highest ESG standards that ensure our responsible production, from ore to advanced battery materials, of environmentally friendly graphite products.
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On our way to Net Zero
Already carbon neutral, we are working toward a complete transition to Net Zero by 2030.
We firmly believe that this approach is essential to protect the environment and provide a sustainable future for generations to come.
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Understanding the geopolitics of the energy Transition
"Unlike in the 20th century, when China was largely a bystander in petroleum politics, the country has achieved new geopolitical significance by scaling up investments in clean energy manufacturing and the critical minerals that work requires."
China has substantial control of the global production of critical minerals required for clean energy manufacturing, such as lithium, nickel, cobalt, manganese, and of course graphite. Building diverse and resilient supply chains for critical minerals requires action at home and abroad, such as reforming permitting processes to expedite environmental reviews and supporting international investments to diversify global supply chains.
Learn more via Dr. Turner's guest essay in The New York Times »
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» Three key battery takeaways from Benchmark Week
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Since 2021, over $300 billion has been invested in battery cell capacity. Much of this capacity will be located in China. Benchmark Week 2023 unpacked the supply chain intricacies and key trends of this booming market.
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» EVs Are The Only Bright Spot In Global Efforts To Reach Net Zero Emissions
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EV sales are moving at the right speed to reach net zero carbon emissions as outlined in the Paris Agreement. That achievement is revealed in a new analysis that shows that the EV sector is the only one of 42 indicators assessed that is on track to reach an agreed-upon 2030 target.
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» US and EU Lead Push for COP28 to Back Tripling of Renewables
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More than 60 countries are supposedly backing the targets to be included in the outcome of the UN’s forthcoming COP28 talks in Dubai, with the US and the European Union leading the global push to endorse the tripling of renewables and doubling of energy savings by the end of the decade.
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GRAPHITE
"The largest input into a lithium-ion battery needs tonnage and diversity"
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Benchmark's latest assessment of the critical minerals requirements for attaining Net Zero targets emphasizes the significant surge in demand for graphite, leading to a potential supply shortage.
"The potential graphite supply crunch is arguably one of the most acute and underappreciated across all battery raw materials."
Access the report »
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