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Recently, a white paper titled "Energy Transition and Geopolitics: Will Critical Minerals be the New Oil?" has been published by The World Economic Forum. This 15-pager examines shifting dependencies from oil to critical minerals in the context of the ongoing energy transition. It explores concerns about supply and demand, the role of markets and policy, and the potential geopolitical implications of this transition and suggests policy initiatives.

Rakesh Kumar Jha, Partner, Sustainability and ESG, BDO India has shared his views on India’s Green Hydrogen aspiration in the light of critical minerals which are located in a few countries.

Rakesh Kumar Jha, Partner, Sustainability and ESG, BDO India
“The availability of minerals significantly influences India's Green Hydrogen ambition as outlined in World Economic Forum's recent white paper "Energy Transition and Geopolitics: Are Critical Minerals the New Oil?".  The transition to green hydrogen, pivotal for India's sustainable energy future, relies heavily on critical minerals like lithium, cobalt, and rare earth elements. These minerals are essential for the production of hydrogen fuel cells and renewable energy technologies. However, India's limited domestic mineral resources pose a challenge, necessitating strategic partnerships and sustainable sourcing practices. Balancing mineral availability with environmental concerns and geopolitical dynamics coupled with exploring innovative alternatives will be imperative for India's successful transition to green hydrogen. Otherwise, we risk transitioning from the burden of oil imports to the challenge of mineral imports.”

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