Climate change: Investment in mining 'needs to nearly double' to achieve net zero, BofA says

Current levels of metals needed to decarbonize economies won’t be sufficient to reach climate targets, a recent Bank of America (BAC) note cautioned, and investment in mining needs to double by 2050 in order to satisfy the growing demand for low carbon technologies.

“Raw material markets are tight already and will likely get tighter going forward,” the analysts wrote. “Based on the current resource endowment and market balances, we don’t expect the 1.5°C global warming target to be achieved by 2050: 1.7-1.8°C looks likely. One solution to resolving shortages and constraints, as ever, lies in investment.”