The technical paper on Critical Materials for the Energy Transition emphasises that an accelerated energy transition requires a growing supply of critical materials, with Chapter 7 of the IRENA’s World Energy Transition Outlook 2022 further elaborating on these materials. IRENA continues to publish technical papers on groups of critical materials: the first one focuses on lithium and this second paper focuses on rare earth elements.

This paper discusses the global lithium industry structure and major players while reflecting on current costs changes and their further implications, the role of the governments could play to de-risk lithium supply and the opportunities innovation can play in reducing demand growth.

This paper will assess how the growth of renewables will put critical materials at the centre of the energy transformation, with the objective of highlighting the criticalities related to the sector and of identifying how technological developments and innovation can positively reduce geopolitical risks.