Few people can name from memory the materials required for wind turbines, photovoltaic panel semiconductors, and electric car batteries. The list is too long, but among the more recognizable minerals used in renewable production are aluminum, lithium, cobalt, iron, copper, lead, and nickel.

On March 8, 2022, the price of nickel doubled overnight. Fueled by the war in Ukraine, fears of supply disruptions briefly drove the cost of nickel contracts over $100,000-a-ton. The London Metal Exchange, the main global market for industrial metals, suspended trading for a week, canceling billions of dollars worth of trades.

In response to the growing challenges created by climate change, consumers across the globe are demanding more environmentally friendly products. This demand is particularly evident when examining the automotive market. In 2021, global sales of electric vehicles (EVs) more than doubled from the year before, rising from 3 million to 6.6 million vehicles according to the International Energy Agency. This boom has created a need for lithium, a key component of the rechargeable batteries used to power these vehicles. Referred to as ‘white gold,’ countries with lithium reserves are racing to increase extraction and export deposits for battery production. As automobile and battery manufacturers work to meet demand and avoid supply chain shocks, many are looking toward the untapped potential of Mexican lithium.

The transition to a carbon-neutral economy will bring profound shifts to diverse economic sectors. This transformation will generate increasing demands for land for renewable energy generation and the minerals needed for clean energy technologies.

Russia’s invasion of Ukraine is sending shockwaves through global systems for natural resources like food, oil and natural gas, and critical minerals. But a recent Wilson Center event assessing the fallout of the conflict also looked to the deeper implications and lessons from the crisis.

COP26 came to a close in Glasgow this weekend, with activists and developing country governments disappointed in the global ambition as laid out in the final agreement text. On the one hand, the final document reflects commitments to cut on methane, doubling of monetary compensation for adaptation measures, and the need for cooperation between the United States and China—the two largest carbon emitters—to set out a roadmap to keep warming below 2 degrees Celsius. On the other hand, developing countries criticized rich countries for evading the language of loss and damage—compensation that recognizes that the countries most affected by climate change have contributed the least to planet-warming greenhouse gases.

Chile is on the cusp of a new era. Just as its lithium—a common element of energy storage technology, which is itself a critical component of the clean energy transition—is experiencing a rise in global market demand, Chilean citizens have called for a new constitution.