The Intergovernmental Panel on Climate Change (IPCC) has projected that for global warming to be kept under 1.5 degrees Celsius, transport-related carbon dioxide emissions need to decline by 59%. This decarbonisation of transport, which accounts for nearly a quarter of global emissions, will rely heavily on electric vehicles (EVs).

According to its April 2022 report: “electric vehicles powered by low emissions electricity offer the largest decarbonisation potential for land-based transport, on a life cycle basis.”

Lithium is an essential input in lithium-ion batteries used for EVs and battery storage and therefore has a major role to play in global decarbonisation, particularly as governments in Europe, North America and Asia increasingly regulate in favour of EVs to replace gasoline-fuelled vehicles.