Constructing a ranking of critical materials for the global energy transition

The number of critical material lists is growing - a designation that can attract capital to the supply chain for these materials. It also triggers initiatives to promote higher environmental and social standards for mining and processing, generates pressure for more transparent supply chains, enhances international collaboration on supply, and can help avoid potential supply-demand imbalances that could delay the energy transition. The report presents a methodology for constructing a global ranking of critical materials for renewable energy applications, aiming to fill gaps in existing lists by providing a truly global perspective. It discusses several findings and their impacts, highlighting the dynamic nature of mineral supply chains. These chains are influenced by geopolitical, regulatory, and technological changes, posing challenges for predicting future critical materials. This report provides a set of recommendations for policymakers and market actors. These recommendations outline strategies for establishing and maintaining critical material lists, with the overarching goal of ensuring a reliable supply of these essential resources.