The Energy Transition Is Powered By — Wait for It — Coal Electricity consumption is accelerating faster than renewable sources can provide for it. And so the world keeps turning to the dirtiest of fossil fuels. In what should be one of the least surprising developments, global electricity demand is soaring everywhere as the world moves to electrify everything. Out go gasoline cars, in come electric vehicles; out go gas boilers, in come heat pumps; and so on and so forth. That’s the energy transition. There’s a catch, however. As demand for power goes up faster than renewables can supply, the world is turning to a time-tested source to produce it: coal . The result is twofold. First, the year when coal demand is expected to peak gets pushed further out. Second, what follows the peak now resembles more an elevated plateau that’s getting higher and higher by the year. And if history is any guide, we should expect further revisions. King Coal Demand Global consumption of coal is now expec
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Cobalt Institute Report ISSUE 6/2024 November 5, 2024 Director General Dinah McLeod discusses the findings of the groundbreaking “Cobalt 2050” study and conversations at the UN General Assembly - and explains why the time to unlock the potential of cobalt in the energy transition is now. Dear colleagues, From discussions at the UN General Assembly to our latest research study, it’s clear: cobalt’s role in the energy transition is more critical than ever. The publication of our “ Cobalt 2050: Unlocking Potential for a Net-Zero Future ” study, developed by BloombergNEF , is a critical piece of research – in fact, the first of its kind for any energy transition metal – showing how cobalt will be essential for reaching the global 2050 net-zero target. I was honoured to be joined at the launch webinar on 8 October by Kwasi Ampofo , Head of Metals and Mining at BloombergNEF and the author of the report, and Jörgen Sandström , Head of Transforming Industrial Ecosystems at the World Ec