Carbon pricing
Over time, carbon prices rise, making pollution uneconomical, and emissions fall
Harder to abate carbon will require a higher price to become uneconomical
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Short-range transport
Power generation
Utilities
Construction materials
Long-range transport
Industry
Relatively easier to abate carbon is the first to be made uneconomical
Transition energy
Carbon pricing
Transition metals
Transition energy
Ethanol is the leading biofuel and natural gas is the least polluting hydrocarbon1
Natural gas...
Corn-based ethanol
Hover
Hover
40%
40%
produces around
half the CO2
half the CO2
of coal when burnt to generate electricity3
emission reduction
compared with gasoline and diesel2
and accounts for
20%
of global electricity generation4
Currently used primarily for road transportation, ethanol-based aviation fuel production is expected from 2025
Sources:
- Center for Climate and Energy Solutions, 2019
- Based on lifecycle estimates. Source: Argonne National Laboratory, 2021
- Source: Center for Climate and Energy Solutions, 2019
- Source: International Energy Agency
Transition energy
Carbon pricing
Transition metals
Sources:
Transition metals
Click on an icon to see the rapid demand growth driven by increased renewable energy use.
Iron ore
+22%
Projected demand for iron ore 2023-2030 CAGR +22%
Demand for iron ore exceeds world's supply in 2029
(Projected deficit by 2030 is 3%)
Aluminium
+28%
Projected demand for aluminium 2023-2030 CAGR +28%
Demand for aluminium exceeds world's supply in 2024
(Projected deficit by 2030 is 25%)
Copper
+23%
Projected demand for copper 2023-2030 CAGR +23%.
Demand for copper exceeds world's supply in 2024
(Projected deficit by 2030 is 37%)
Nickel
+22%
Projected demand for nickel 2023-2030 CAGR +22%.
Demand for nickel exceeds world's supply in 2028
(Projected deficit by 2030 is 14%)
Zinc
+15%
Projected demand for zinc 2023-2030 CAGR +15%.
Demand for zinc exceeds world's supply in 2029
(Projected deficit by 2030 is 2%)
Silver
+23%
Projected demand for silver 2023-2030 CAGR +23%.
Demand for silver exceeds world's supply in 2024
(Projected deficit by 2030 is 109%)
Platinum
+84%
Projected demand for platinum 2023-2030 CAGR +84%.
Demand for platinum exceeds world's supply in 2024
(Projected deficit by 2030 is 25%)
Cobalt
+19%
Projected demand for cobalt 2023-2030 CAGR +19%.
Demand for cobalt exceeds world's supply in 2026
(Projected deficit by 2030 is 28%)
Lithium
+48%
Projected demand for lithium 2023-2030 CAGR +48%.
Demand for lithium exceeds world's supply in 2029
(Projected deficit by 2030 is 12%)
Transition energy
Carbon pricing
Transition metals
Source: Bank of America 2024