McKinsey Adds to Warnings of Clean-Energy Metals Shortages
- Investments in mining, refining and smelting must accelerate
- Slower adoption of green technology may threaten climate goals
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McKinsey & Co. joined the growing chorus warning that metals considered key to the clean-energy transition face shortages in coming years, potentially suppressing the adoption of electric cars, wind turbines and solar panels.
These deficits likely will slow global decarbonization efforts by raising supply-chain costs and, consequently, the prices of lower-carbon products, McKinsey said in a report released Wednesday. Trafigura Chief Executive Officer Jeremy Weir and BloombergNEF have expressed similar concerns.