The alliance, which was launched at the World Economic Forum’s first Sustainable Development Impact Summit 2017 in New York, aims to end environmental damage, pollution, child labour and hazardous working conditions in the battery industry by transforming the whole value chain into a responsible one.
The use of batteries, in electric vehicles, smartphones and energy storage systems, is expected to grow continuously to meet consumer demand and promote a low-carbon economy, reaching US$100 billion by 2025. Bernstein forecasts that cobalt demand could exceed 1 million tonnes per annum in 2034, predominantly driven by EV battery demand if the world continues progressing towards a truly green economy. Similarly, lithium carbonate equivalent (LCE) demand is expected to grow to 550,000-600,000tpa by 2025, from 180,000tpa, also driven by storage solutions and EVs, according to Europe-focused lithium explorer Novo Lítio (AU:NLI).
The mining of these battery raw materials, as well as nickel, manganese and graphite, all have links to pollution, water shortages and other environmental and social concern, the WEF said.
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