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Global electricity consumption is on an upward trajectory, with nations like China, India, and the USA driving significant demand due to economic growth, rising temperatures, and the expansion of sectors like data centers, 5G networks, and residential and mobility industries. According to the International Energy Agency's mid-year update for 2024, these countries are expected to see a 6% increase in energy consumption. 

Sponsoring Colombian Graphite

Sponsoring Colombian Graphite

Concurrently, there's a marked shift towards cleaner energy sources, with renewables, particularly solar and wind, projected to double in capacity by 2026, potentially outpacing coal by 2025. This transition is fueled by policy support and investments, although it faces challenges such as securing supply chains for critical minerals like lithium, cobalt, copper, and graphite, which are essential for renewable technologies. The increasing demand for these minerals, coupled with issues like geopolitical concentration of supply, environmental impacts, and labor practices, poses significant hurdles to achieving a sustainable and secure energy transition.

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Delivering sugar for the European Union and North America

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