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A five-year delay to the energy transition could see the global average temperature rise to 3°C above pre-industrial levels.
The rise of electric-arc furnace technology, increased use of green feedstock and evolving carbon policies will reshape steel production and global trade patterns.
The REPowerEU initiative has the potential to add at least 420 gigawatts (GW) of solar installations by 2030; however, rising solar raw material costs could become the stumbling block to achieving this goal, says Wood Mackenzie.
Trade dislocations due to sanctions, high power prices and disruption to production facilities in the conflict zone are three major threats to the metals and mining industry as result of escalating conflict between Russia and Ukraine, says Wood Mackenzie.
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