To hit net-zero targets by 2050, a total of US$78 trillion investment across upstream, power supply, grid infrastructure, critical minerals and emerging technologies is needed — including approx US$3trillion in metals and mining.
A new report by Wood McKenzie sees base demand for base metals and battery raw materials, in particular, aluminium, copper, nickel and zinc, rising exponentially to support global electrification efforts, outpacing country pledges in a net zero scenario.
Energy supply investment to nearly double by 2050 to US$3.5 trillion to reach net zero, with power generation and infrastructure account for up to 80% of total spending.
Our latest analysis on the volatility that has hit critical zinc supply, just as demand is expected to rise: