The International Energy Agency will host the first ever international summit on critical minerals and their role in clean energy transitions on 28 September 2023 in Paris.
The IEA Critical Minerals and Clean Energy Summit will focus on measures to promote the secure, sustainable and responsible supply of raw materials that have a central role in the global clean energy transition. The Summit will convene ministers from countries around the world – including both large mineral producers and consumers – as well as business leaders, investors, heads of international organisations and civil society representatives.
The convening of the IEA Critical Minerals and Clean Energy Summit comes after the IEA was given a Ministerial mandate by its member governments last year to deepen its work on critical minerals. Building on the analysis of its landmark report The Role of Critical Minerals in Clean Energy Transitions, the Agency has launched new work streams to improve the transparency and security of critical minerals supplies and just published its inaugural Critical Minerals Market Review. The IEA was also recently asked by G7 Climate, Energy and Environment Ministers to provide support on critical minerals.
The Summit will aim to build a broader consensus among the participants on effective courses of action to diversify mineral supply chains, enhance market transparency, accelerate technological innovation and recycling, and promote sustainable and responsible development practices.
Non-government (companies, international organisations and civil society)
Demand for minerals that help power electric vehicles, wind turbines, solar panels and other clean energy technologies is skyrocketing as the global energy transition gathers pace, increasing the need for international cooperation.
According to the IEA’s Critical Minerals Market Review 2023, the overall market for energy transition minerals has doubled in size over the past five years, reaching USD 320 billion in 2022. It is set for continued rapid growth, moving it increasingly to centre stage for the global mining industry and policy makers focused on energy and climate goals.
Growing investment in critical mineral development provides grounds for cautious optimism on future supplies. Yet the risk of project delays and technology-specific shortfalls leaves little room for complacency – and more projects are needed by 2030 in a scenario that limits global warming to 1.5 °C, according to the IEA’s analysis.
Limited progress on diversifying supply sources also remains a major concern, while environmental, social and governance performance offers significant scope for improvement. These trends underscore the importance of high-level dialogue among global stakeholders.
For more information on the outlook for critical minerals, visit the IEA Critical Minerals Data Explorer. This interactive online tool maps out global demand projections for more than three dozen minerals essential to clean energy transitions under various scenarios and technology trends.