Global energy transition requires deeper international cooperation
Rising geopolitical tensions are highlighting the need for energy security and the global energy transition, which require deeper international cooperation across renewable energy supply chains, speakers said at the China Development Forum on March 22. According to the International Energy Agency, total global metal demand will increase sixfold by 2050, with lithium and cobalt jumping nearly fortyfold. Jeremy Weir, chairman of commodity trader Trafigura Group Pte. Ltd., warned of supply shortage risks for essential minerals, noting that by 2035, global copper demand is expected to grow by 40%, yet existing mines and committed projects will only cover about half of the increment.
