ve scheme, these policies are transforming industrial policy geared toward clean energy technology.
G7 governments have already recognised the importance of building resilient, secure and sustainable supply chains to accelerate the clean energy transition and reduce vulnerabilities associated with undue dependencies. There is much countries can do domestically to proactively address the risks posed to supply chains – including developing industrial strategies that leverage their competitive advantages. But international co-operation will be crucial to ease, hasten and extend any progress that is to be made. With this in mind, the new IEA report concludes with six recommendations for G7 leaders that are also applicable for other interested governments.
The recommendations are focused on actions that require international cooperation, such as coordinating efforts across supply chains, and identifying and building strategic partnerships both within the G7 and beyond, including through facilitating investment in emerging market and developing economies. Development of a platform to inform the process of identifying strategic partnerships for manufacturing is recommended, as well as sharing best practice and promoting technologies and strategies to enhance resource efficiency, thereby increasing the resilience of the supply chain.
In addition to clean technology manufacturing, the issue of critical mineral security is of strategic importance to many countries and an area where the need for international cooperation is acute. These minerals are an essential component in the clean energy transition and diversification is necessary to mitigate disruptions or bottlenecks in supply chains. To address these issues, the IEA will host the first ever IEA Critical Minerals and Clean Energy Summit on 28 September to focus on measures to promote the secure, sustainable and responsible supply of raw materials that have a central role in clean energy transitions around the world. The Summit will convene ministers from countries in the IEA family and beyond – including both large mineral producers and consumers – as well as business leaders, investors, heads of international organisations and civil society representatives.
The report provides an update on recent progress in clean energy technology manufacturing in key regions. It focuses on five technologies – solar PV, wind, batteries, electrolysers and heat pumps – that will be critical to the energy transition. Explore report