Mining, Metals, Oil and Gas

The transition to a low-carbon economy will increase mineral commodity demands by up to tenfold by 2050. Improving the quality of lives in developing countries will further increase resource demands. Mineral ores are critical for manufacturing low-carbon technologies. The projected increase in demand provides a major business opportunity, in turn providing a driver for the required investment to move to low-carbon mining, processing and recycling. To improve efficiency and reduce the carbon footprint of mining and metals recycling, the industry can take advantage of solar photovoltaics, wind and batteries, and renewable energy power purchase agreements, and reduce flaring, venting and fugitive emissions. Adaptation to cope with extreme weather events is critical to ensure materials can be delivered to low-carbon technology producers. Reducing exposure to climate risks through an integrated adaptation–mitigation approach lessens operational, maintenance and insurance costs. This chapter reviews tools to help the sector simultaneously achieve both climate mitigation and adaptation cost-effectively.