The energy transition outlook for cobalt

Our energy transition outlook focuses on two scenarios - "Pledges" and "Net zero" - in which the rise in global temperatures since pre-industrial times is limited to 2.0 °C and 1.5 °C, respectively, by the end of this century. These scenarios are our interpretation of plausible routes to achieve the objectives given policy drivers, costs, consumer choices and technological innovation required. In this insight we evaluate the impact of future power generation requirements under each scenario on cobalt demand compared with our base case. We consider not only cobalt in battery raw materials but also cobalt contained in magnets and specialty alloys used in turbines and other power generation equipment as well as catalytic applications.