COP28: A mining and metals stocktake Report

Insight 29 November 2023

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Report summary

Negotiations at this year’s COP28 gathering are centred around the Global Stock Take (GST) which, two years in the making, provides a basis upon which to reset emission goals, and reignite global ambition. The mining sector has a crucial role to play in providing the materials for low carbon technologies that will enable the necessary deep reductions in fossil fuel use. The stocktake provides a chance to reflect on how the mining sector has responded since global emissions targets were first enshrined at the Paris COP21 in 2015.

How has the metals and mining sector responded since Paris in 2015?
- Demand for metals has been transformed
- Miners have responded, despite the constraints
- Emissions targets are now embedded
- Government policy has evolved, bringing metals on the agenda
What more is needed to deliver Paris agreement goals?
- Invest in clean energy infrastructure and grow primary metals supply
- Introduce new financing mechanisms and policies
- Adopt new technology and carbon pricing
- Embrace global cooperation
- Encourage societal buy-in
- Advance the circular economy