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A five-year delay to the energy transition could see the global average temperature rise to 3-degree Celsius above pre-industrial levels.
Home to half of the world’s population and contributing a third to the global GDP, the Asia Pacific region is expected to maintain a 50% share of global primary energy demand and a 60% share of global carbon emissions until 2050. This trend is unlikely to change without strong policy action and investment. However, the region still has the potential to turn these challenges into opportunities and become a global leader in the energy transition.
Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today announced that an affiliate of Veritas has completed the purchase of Wood Mackenzie from Verisk (Nasdaq: VRSK).
War in Ukraine is transforming the outlook for the supply, demand and price of hydrocarbons and the pace and cost of the energy transition. While the precise timing and implementation of future bans on Russian commodity imports are difficult to predict, a rewriting of energy trade flows is now underway.
While recycling can relieve some pressure from the supply deficit of battery raw materials, it will not be able to meet demand, says Wood Mackenzie.
Steel industry’s carbon emissions is expected to fall 30% by 2050 compared to 2021 levels, according to a new report by Wood Mackenzie.
China’s renewables manufacturing has emerged from 2021 bigger and more competitive than ever before. Western markets are benefitting from trading with the IKEA of the energy transition, but balancing reliance on China’s technology providers with local interests is now a key political as well as environmental challenge, says Wood Mackenzie.
Sweden has shown it has potential to become a pioneer in green steel production, says Wood Mackenzie.
Lithium-ion (Li-ion) battery recycling is not expected to take off before 2030, according to a new report by Wood Mackenzie.
China’s CATL unveiled its newly-developed sodium-ion battery at a launch event today.
Demand across most commodities in China is expected to slow down in the second half of 2021, according to Wood Mackenzie’s new monthly China Economic Focus report.
Another commodities supercycle is on the horizon, but it will be different from any that have come before. Fossil fuels won’t be in the vanguard and the winners will be the industrial metals needed to electrify society - cobalt, lithium, copper, nickel, and aluminium.
The EU Commission proposed a carbon border adjustment mechanism (CBAM) as part of today’s “Fit for 55” package. James Whiteside, global head of multi-commodity research at Wood Mackenzie, said: “As the first mechanism of its kind, the CBAM is being designed in consultation with industry to avoid unintended consequences. “A CBAM that does not cover a substantial portion of the production chain will encourage carbon leakage - pushing emissions beyond the borders of the EU or shifting competition between EU and non-EU producers to the next stage of the value chain.”
Wood Mackenzie is pleased to announce its acquisition of Roskill, a privately-owned company and leader in metals and materials supply chain intelligence.
Wood Mackenzie’s latest report reveals that China’s march towards carbon neutrality by 2060 can complement both energy security and economic goals.
All-in front-of-the-meter (FTM) battery storage system costs in Asia Pacific markets could decline by more than 30% by 2025, says Wood Mackenzie.
More than $1 trillion of investment will be needed in key energy transition metals - aluminium, cobalt, copper, nickel and lithium - over the next 15 years just to meet the growing demands of decarbonisation, according to Wood Mackenzie. This is almost double the figure invested over the previous 15 years.
According to Wood Mackenzie's Accelerated Energy Transition (AET) scenario, which sees global warming limited to 2.5 degrees (Celsius), the battery raw materials supply chain requires much more investment by 2030.
Over 650 GW of new onshore and 130 GW of new offshore wind capacity will be installed between 2018 and 2028. This will consume in excess of 5.5Mt of copper, according to a recent analysis by Wood Mackenzie.
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