Energy Transition Metals

The energy transition requires substantial amounts of metals such as copper, nickel, cobalt and lithium. Are these a key bottleneck? We identify metal-specific demand shocks, estimate supply elasticities pin down the price impact in structural scenario analysis. Metal prices would reach historical peaks for an unprecedented, sustained period net-zero emissions scenario. total value production rise more than four-fold 2021 to 2040, rivaling crude oil production. Metals are potentially important input into integrated assessments models climate change.