Leaders Summit on Climate
On April 22-23 President Biden hosted the Leaders Summit on
Climate, a virtual event intended to underscore the urgency –
and the economic benefits – of stronger climate action. 40
world leaders were invited to participate in the summit, which the
White House billed as a key milestone on the road to the United
Nations Climate Change Conference (COP26) this November in Glasgow.
The event also included leaders and representatives from
international organizations, businesses, subnational governments,
and indigenous communities.
A key takeaway was President Biden s announcement that the
U.S. will commit to target reducing emissions by 50-52 percent by
The
Renewables Monthly Metals Index (MMI) traded flat for this month’s reading, as cobalt prices have surged so far this year.
(Editor’s note: This report also includes the MMI for grain-oriented electrical steel, or GOES.)
The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.
Rising cobalt prices
Earlier this month, MetalMiner’s Stuart Burns delved into the rise of electric vehicles. Furthermore, he also zeroed in on rising EV demand’s impact on prices, particularly for critical battery metals like cobalt.
For EV manufacturers, the challenge lies in cobalt supply, cost and ethics. A majority of the world’s cobalt is mined in the Democratic Republic of the Congo, where the documented use of child labor in artisanal mining operations poses significant ethical problems.
Leaders Summit on Climate
On April 22-23 President Biden hosted the Leaders Summit on Climate, a virtual event intended to underscore the urgency – and the economic benefits – of stronger climate action. 40 world leaders were invited to participate in the summit, which the White House billed as a key milestone on the road to the United Nations Climate Change Conference (COP26) this November in Glasgow. The event also included leaders and representatives from international organizations, businesses, subnational governments, and indigenous communities.
A key takeaway was President Biden’s announcement that the U.S. will commit to target reducing emissions by 50-52 percent by 2030 compared to 2005 levels. Other key U.S. commitments include:
Ben Cahill
Energy Security and Climate Change Program
The Biden administration, mindful that its climate policies could hasten the already steep decline of the coal industry, aims to revitalize coal-dependent communities. President Biden’s climate-focused executive order signed on January 27 established an interagency working group to support vulnerable communities.
The group’s first report highlights 25 energy communities that are potentially at risk and identifies $38 billion in available federal funding to invest in infrastructure, broadband, small businesses, and local financial institutions. Environmental remediation will be a priority, building on President Biden’s plan to invest up to $16 billion in plugging orphaned oil and gas wells and reclaiming abandoned mines. The Biden administration plans to hold a series of town hall discussions in these communities, in an important step toward engaging local voices to find solutions rooted in each region’s particular needs