The energy transition demands a wide array of critical minerals, covering about half the periodic table, with specific needs differing by country. This highlights the urgent necessity for improved policies, investment, transparency, and standards in the mining of critical minerals and their processing into chemicals essential for clean energy technologies.

The speed of the energy transition hinges on the rapid commercialization and widespread adoption of a mix of clean energy technologies. Solar, wind, and nuclear power are key for low-carbon electricity. Batteries are critical for electric vehicles and energy storage. And transmission lines are essential for linking robust renewable energy sources with major urban demand centers.

Semiconductors and magnets play a crucial role in various technologies, with semiconductors underpinning modern digital devices, and magnets crucial for the conversion of physical energy into electrical energy and vice-versa. We also explore emerging solutions like green hydrogen, aimed at decarbonizing heavy industries.

The pace of the energy transition is significantly influenced by the supply chains for critical minerals and components crucial to clean energy technologies. Given the global nature of these supply chains, a stable and dependable international trade system becomes fundamental to the energy transition.

Although numerous countries have robust ambitions to boost domestic manufacturing, the extensive scope of the transition necessitates well-coordinated and cooperative international supply chains to maximize carbon emission reductions.