Challenge
How can the mining industry balance growing demand for green tech minerals with the need to cut emissions?
Solar panels, wind turbines, electric vehicles, and batteries, all these innovations – and with it, the extraction of minerals and metals – will need to scale if we want to meet the climate goals of the and reach Net Zero.Copper and nickel are critical inputs for green technologies. To support the energy transition, their production will need to grow by 200-300% by mid-century. However, significant greenhouse gas (GHG) emissions are associated with their extraction and processing: copper releases , while nickel production releases .The mining industry must cut emissions by 90% by 2050, while increasing production to meet demand. This balancing act is no easy undertaking; it requires collaboration, coordination and swift action across the whole value chain.As a development finance institution, IFC1 is committed to climate action and the sustainable development of critical minerals. As pressure mounts on the mining industry, IFC, the private sector lead of the World Bank Group’s Climate-Smart Mining Initiative, sought to develop a Net Zero roadmap for copper and nickel mining value chains. Together with the Carbon Trust and partners, it wanted to provide guidance on how the Net Zero mine of the future is possible today.