US Pressure on the IEA Signals a Deeper Fight Over Net Zero and Energy Security

US, Chris Wright

US pressure on the IEA is now openly reshaping the global energy policy debate. US energy secretary Chris Wright said Washington will use all available pressure to push the IEA away from net zero work. He wants the agency to return to a narrower focus on energy security. As a result, US pressure on the IEA has become a major political challenge to the agency’s current direction.

This matters because the IEA is no longer only an oil security institution. Under Fatih Birol, it expanded into clean energy, climate analysis, and transition policy. The US now argues that this shift has gone too far. Therefore, the fight over the IEA net zero agenda is also a fight over the agency’s identity.

The disagreement reflects a wider split between Washington and much of Europe. Wright said European climate choices have made energy more expensive and weakened industrial competitiveness. He contrasted that with a US strategy of energy addition. Consequently, the energy security debate is now closely tied to industrial policy and global competitiveness.

The IEA Net Zero Agenda Is Facing Direct Political Resistance

The IEA net zero agenda is facing one of its clearest political confrontations in years. Wright argued that the agency assumes European climate policy will become a global template. He said that assumption is unrealistic. As a result, US pressure on the IEA is challenging the foundation of its transition-focused messaging.

The IEA has pushed back by emphasizing data and credibility. Birol said energy security remains the agency’s first priority, while clean technology adoption comes second. That response shows the IEA is trying to hold both positions at once. However, the US appears to want a much sharper shift away from climate-oriented work.

This conflict matters because the US is not a peripheral member. It is a founding member and a major funder of the agency. Therefore, US pressure on the IEA carries institutional weight, not just rhetorical force. If Washington sustains this campaign, the agency may face a more difficult balance between member priorities.

Energy Security Debate Now Sits at the Center of Global Energy Policy

Energy security debate is now overtaking climate consensus as the main organizing theme in many capitals. Governments increasingly worry about affordability, industrial resilience, and strategic supply. That change gives more force to the US argument, even if many countries still support transition policy. As a result, global energy policy is entering a more contested phase.

Europe remains central to that struggle. Wright criticized the EU for making energy expensive and driving energy-intensive manufacturing abroad. At the same time, Europe continues to frame diversification and clean energy as part of its own security strategy. Meanwhile, the gap between those positions is widening rather than narrowing.

The broader implication is clear. The next energy policy battle may not be about whether transition happens. It may be about who controls its pace, language, and institutional framework. Consequently, US pressure on the IEA could shape more than one agency. It could influence the tone of global energy governance itself.

The Metalnomist Commentary

This dispute matters because it shows the energy transition is no longer a purely technical discussion. It is now a power struggle over institutions, industry, and strategic priorities. If the US keeps pressing this line, the IEA may become a central battleground in the future of global energy policy.

France Fossil Fuel Roadmap Sets Clear Timetable for Energy Transition

Fossil fuel roadmap

France fossil fuel roadmap marks an important step in turning climate targets into a structured energy transition plan. The roadmap does not introduce new targets, but it brings France’s energy policies, electrification strategy and climate goals into one document.

France fossil fuel roadmap is significant because it gives a clear schedule for reducing fossil fuel dependence. France aims to cut fossil fuels from around 60% of final energy consumption in 2023 to 40% in 2030 and 30% in 2035.

France fossil fuel roadmap also sets long-term phase-out dates for coal, oil and natural gas. The government plans to phase out coal by 2030, oil by 2045 and natural gas by 2050, while targeting net zero emissions by mid-century.

The roadmap matters beyond France. It gives other governments a practical example of how fossil fuel transition planning can connect emissions targets, energy security, electrification and industrial strategy.

Electrification Becomes the Core of Fossil Fuel Reduction

France’s roadmap links fossil fuel reduction directly to electrification. The country’s new electrification plan, released in April, now sits alongside its national low-carbon strategy and wider climate targets.

This connection is important because fossil fuel phase-out cannot happen only through policy declarations. It requires more electricity, cleaner generation, stronger grids, electric heating, electric transport, industrial efficiency and lower-carbon manufacturing.

France also has an energy security reason to move faster. More than 95% of fossil fuels burned in the country are imported, exposing households and industry to external price shocks, shipping risks and geopolitical disruption.

Reducing imported fossil fuel use therefore serves two goals. It lowers emissions and reduces exposure to volatile global energy markets.

The roadmap reiterates France’s target to cut gross greenhouse gas emissions by 50% by 2030 compared with 1990 levels. It also supports the longer-term objective of net zero emissions in 2050.

France’s remaining two coal-fired power plants are scheduled to close or be converted by next year. This makes coal the easiest part of the transition, while oil and natural gas will require deeper changes across transport, buildings and industry.

For metals and materials markets, the roadmap points to rising demand for the physical infrastructure behind electrification. Copper, aluminium, electrical steel, transformers, batteries, rare earth magnets, grid equipment and power electronics will all become more important as France cuts fossil fuel use.

The policy also strengthens the case for clean energy investment. A clearer timetable can help utilities, manufacturers, grid operators and industrial users plan capital spending around future energy demand.

Fossil Fuel Transition Planning Gains Global Momentum

Think tanks welcomed the French roadmap because few countries address coal, oil and gas together under one transition framework. They noted that France did not raise ambition, but still provided a useful model by setting timelines and aligning policies.

This matters because global climate diplomacy is moving from broad pledges toward implementation. The first global stocktake agreed at Cop 28 called for a transition away from fossil fuels in energy systems, but many countries still lack detailed national plans.

France’s roadmap gives that commitment a national structure. It shows how governments can translate climate summit language into domestic policy sequencing.

The document also creates pressure on fossil fuel-producing countries. If demand for fossil fuels declines over the coming decades, producer economies will need diversification plans, new industries and alternative sources of public revenue.

Colombia’s draft fossil fuel transition roadmap shows that this discussion is widening. The country aims to cut primary fossil fuel demand by 90% over 2026-50 while expanding energy access and managing dependence on oil and coal exports.

The EU is also moving in the same direction, even if its language focuses more on emissions reduction than explicit fossil fuel phase-out. The bloc targets net zero emissions by 2050, a 55% emissions reduction by 2030 and a 90% reduction by 2040 compared with 1990 levels.

The practical effect is similar. Deep emissions cuts cannot happen without a major reduction in fossil fuel use.

For industry, this creates a long-term signal. Companies should expect more electrification, stronger carbon rules, higher clean-energy investment and greater pressure to reduce fossil fuel exposure in operations and supply chains.

The strategic issue is execution. Roadmaps help, but governments still need permitting reform, grid investment, clean power capacity, financing, industrial incentives and raw material supply security.

The Metalnomist Commentary

France’s roadmap shows that fossil fuel transition is becoming an infrastructure plan, not just a climate slogan. The industrial winners will be countries that connect phase-out timelines with grids, clean power, critical minerals and manufacturing capacity.

CATL and APM Terminals Partner to Accelerate Electrification of Container Terminals

APM Terminals

Strategic Alliance Targets Zero-Emission Port Operations

China’s Contemporary Amperex Technology (CATL) and Netherlands-based APM Terminals have signed a landmark agreement to drive the electrification of container terminal operations. The partnership aims to accelerate the global shift toward battery-electric container handling equipment through the Zero Emission Port Alliance.

Under the agreement, CATL will supply advanced batteries and integrated energy systems for APM Terminals’ electric fleet, including terminal tractors. This collaboration spans the full battery lifecycle, covering design, deployment, after-sales service, and recycling, ensuring a sustainable and circular approach to energy use in ports.

APM Terminals, an independent division of Danish shipping group AP Moller–Maersk, operates in more than 60 countries and is developing several new facilities. Together with Maersk, the company has committed to achieving net-zero emissions by 2040, integrating renewable power sources such as solar and wind into port operations.

Driving Efficiency and Sustainability in Global Trade

The electrification initiative also focuses on operational efficiency, with plans to reduce dwell times, optimize energy use, and deploy energy-saving infrastructure. By transitioning to battery-electric handling equipment, APM Terminals can significantly cut its carbon footprint while enhancing operational reliability and lowering long-term energy costs.

As the maritime logistics industry faces increasing regulatory and environmental pressures, this partnership positions both companies at the forefront of port decarbonization. The integration of CATL’s battery technology with APM Terminals’ global operations could serve as a scalable model for ports worldwide seeking to achieve zero-emission targets.

The Metalnomist Commentary

The CATL–APM Terminals partnership signals a pivotal shift toward zero-emission port infrastructure. By combining battery innovation with operational expertise, the initiative could redefine industry standards for sustainable maritime logistics. The success of this collaboration may influence other port operators to accelerate similar decarbonization strategies.

Chinese PV Industry Faces Overcapacity and Profit Losses: IEA Reports

Iea(The International Energy Agency)

The International Energy Agency (IEA) has issued a concerning report highlighting the overcapacity and declining profitability in China’s photovoltaic (PV) industry, which is the dominant force in the global solar energy supply chain. The report, presented during a webinar this Thursday, sheds light on the financial struggles faced by major Chinese manufacturers such as JA Solar Technology and LONGi Green Energy Technology, which have reported significant losses in their recent financial statements.

According to Izumi Kaizuka, an analyst at the IEA, the mood at the 17th SNEC PV conference in Shanghai this June was grim. Kaizuka quoted the founder of GCL Group, a major PV manufacturer, who expressed concern that the Chinese PV industry is "entering an ice age" due to a severe imbalance in supply and demand. The report also highlighted the bankruptcy of Zhejiang Akcome, one of China’s leading PV manufacturers, earlier this year, with the IEA predicting more closures in the near future.

China's Dominance in Global PV Production

Despite the struggles at home, China continues to dominate the global PV industry. In 2023, China accounted for more than half of the 456GW of global solar power capacity added, and nine of the top 10 PV suppliers in the first half of 2024 were Chinese-owned. The country has increased its production share across all segments of the PV supply chain, including polysilicon, crystalline silicon wafers, solar cells, and PV modules, with its share reaching 92%, 98%, 92%, and 85%, respectively, in 2023.

The rapid expansion of China’s PV capacity is evident, with the country increasing its own year-on-year solar additions by 123% from 2022 to 2023, followed by Italy (113%) and Germany (109%). However, the global demand for PV capacity is pushing countries like the EU and the US to expand their own solar production capabilities, with the EU installing over 56GW in 2023 alone.

The EU's Push for Solar Manufacturing

In response to its growing reliance on Chinese imports, the European Union (EU) has set ambitious targets to scale up domestic production of PV panels. Under the Net-Zero Industry Act, the EU aims to produce at least 40% of its annual needs for strategic net-zero technologies—including solar panels—by 2030. With current production at under 5GW annually, the EU is planning to ramp up its manufacturing capacity to 30GW per year by 2030 in order to meet its renewable energy goals.

As the global PV market faces challenges like overcapacity and supply-demand imbalances, the role of China in driving production and the EU’s efforts to boost its domestic capabilities will shape the future of the solar industry.

Novelis Achieves Breakthrough Hydrogen Test for Aluminium Recycling at Latchford Plant

Novelis

Hydrogen Melting Furnace Cuts Carbon Emissions by Up to 90%

Net Zero Innovation Portfolio and HyNet Project Drive Industry Decarbonisation

Novelis, a leading US-based aluminium rolling and recycling company, has successfully tested hydrogen as a fuel for a recycling furnace at its Latchford, UK facility. The company reported that using hydrogen in the melting process can reduce carbon emissions by up to 90% compared to conventional methods.

Hydrogen Technology Supports Major UK Decarbonisation Initiatives

These tests were conducted under the UK’s Net Zero Innovation Portfolio and the regional HyNet project, both of which focus on low-carbon hydrogen production and industrial CO₂ capture. Novelis has participated in HyNet since 2017, supporting the shift to greener metals manufacturing across northwest England and north Wales.

The firm will now expand hydrogen-based, recycled alloy production processes at multiple European plants. Novelis also plans to publish results as part of the UK Industrial Fuel Switching programme later in 2024, sharing key findings with industry partners.

Latchford Expansion Doubles UBC Recycling and Cuts Emissions

In July 2023, Novelis announced a $90 million investment to more than double the Latchford plant’s used beverage can (UBC) recycling capacity. New equipment—including a dross house, shredding and melting systems—will boost recycling capacity by 85,000 t/year and lower annual carbon emissions by over 350,000 tonnes.

This hydrogen breakthrough supports Novelis’ broader push for sustainability and could drive innovation across global recycling operations. Latchford plant manager Allan Sweeney emphasized that these results will inspire further hydrogen research and deployment company-wide.

Amag Aluminium Loan Strengthens Europe’s Push for Advanced Aluminium Manufacturing

Amag Aluminium

Amag aluminium loan financing from the European Investment Bank will support new research, digitalisation, and sustainable manufacturing in Austria’s downstream aluminium sector. The €75mn loan gives Amag fresh capital to develop higher-value aluminium products while improving the environmental performance of its Upper Austria production base.

The financing marks the first EIB loan in Austria under the TechEU programme. That matters because the programme is designed to accelerate European innovation in strategic industries. For aluminium, this support comes as Europe seeks more resilient supply chains for materials used in transport, packaging, energy infrastructure, and net-zero technologies.

Amag plans to use the loan as part of a wider research investment programme expected to reach €168mn between 2025 and 2028. The Amag aluminium loan therefore supports more than one company’s balance sheet. It also reflects Europe’s effort to protect industrial capability in a sector exposed to energy costs, import competition, and decarbonisation pressure.

EIB Financing Supports Aluminium R&D and Digitalisation

The EIB financing will help Amag develop advanced aluminium products and modernise manufacturing processes. This is important because downstream aluminium producers increasingly compete on alloy performance, process efficiency, traceability, and carbon footprint rather than volume alone.

Digitalisation will likely play a central role in that competitiveness. Aluminium rolling, casting, recycling, and finishing operations depend on tight process control. Better data systems can improve yield, reduce waste, and support more consistent product quality for demanding customers in automotive, aerospace, industrial, and energy transition markets.

The Amag aluminium loan also highlights how public financing is becoming more closely tied to industrial technology. Europe is trying to support companies that can upgrade manufacturing while meeting stricter sustainability requirements. For aluminium producers, that means combining product innovation with lower-emission operations.

Critical Raw Materials Policy Raises Aluminium’s Strategic Role

The loan also aligns with the European Critical Raw Materials Act. Although aluminium is widely traded, Europe increasingly treats it as a strategic material because it underpins net-zero technologies, lightweight transport, power infrastructure, and manufacturing resilience.

This policy connection is significant for downstream producers. Europe does not only need raw metal supply. It also needs domestic capacity to convert aluminium into advanced products that meet industrial and environmental standards. Companies such as Amag sit in that critical middle layer between raw material supply and finished manufacturing.

The EIB’s support therefore strengthens Europe’s aluminium value chain at a time when industrial policy is becoming more active. As global competition intensifies, financing for research and sustainable production can help European producers defend higher-value market positions and reduce dependence on imported materials and technologies.

The Metalnomist Commentary

The Amag aluminium loan shows how Europe is using finance as an industrial policy tool. The bigger message is clear: aluminium competitiveness will depend on innovation, low-carbon production, and control over strategic manufacturing capacity.

EIB and Deutsche Bank to Boost European Wind Power with €1 Billion Investment

In a significant push for renewable energy, the European Investment Bank (EIB) is set to provide a €500 million ($541 million) counter-guarantee to Deutsche Bank. This backing will enable Deutsche Bank to establish a €1 billion portfolio aimed at investing in wind farms across the European Union. This initiative marks the first step in the EIB's broader €5 billion plan to support wind power equipment manufacturers within Europe, a part of the EU's comprehensive wind power strategy designed to sustain a competitive and robust wind energy supply chain.

The EIB and Deutsche Bank's collaboration is expected to trigger private investments amounting to up to €8 billion. The EIB highlighted wind power as a significant success for the EU but acknowledged current challenges such as supply chain disruptions, inflation, and slow project permitting. The EU's net zero industry act, approved in May, aims to address these permitting issues and enhance the production rate of net zero technologies within the bloc.

The EIB's €5 billion initiative is projected to add 32GW of wind power capacity in the EU. According to the International Energy Agency (IEA), the share of wind and solar power in the EU's total energy supply is expected to increase to 30% this year, surpassing the output from fossil fuels.

As the EU's lending arm, owned by its member states, the EIB increased its climate finance to €44.3 billion last year. The bank ensures that all new projects it finances align with the Paris climate agreement and explicitly excludes investments in fossil fuels that do not contribute to CO2 emission reductions.

Asian Investor Climate Policy Advocacy Rises as Transition Finance Needs Clearer Rules

AIGCC

Asian investor climate policy advocacy is accelerating as more asset owners and managers push governments for clearer frameworks to support climate investment. The Asia Investor Group on Climate Change said investors across the region are moving beyond broad net zero pledges toward more direct engagement on policy.

Asian investor climate policy advocacy is becoming more important because Asia’s energy transition depends heavily on regulation, project approvals and national transition roadmaps. Markets across the region differ widely in policy maturity, carbon rules, disclosure standards and grid planning.

Asian investor climate policy advocacy now extends beyond emissions targets. Investors are calling for stronger sector transition plans, technology support, physical climate risk frameworks, nature-related disclosures and just transition policies.

The shift matters for metals and industrial supply chains. More investible climate policy can unlock capital for energy storage, renewable power, transmission, low-carbon transport and green infrastructure, all of which require large volumes of copper, aluminium, battery materials, electrical steel and critical minerals.

Energy Storage and Grid Investment Draw More Capital

Energy storage has become one of the clearest winners from stronger climate policy interest. The share of surveyed investors interested in energy storage doubled to 82% in 2025 from 40% in 2023.

This is an important signal for battery metals. Storage growth can support demand for lithium, iron phosphate, graphite, copper, aluminium and power electronics materials, even when electric vehicle growth becomes uneven.

Renewable power generation and transmission are also attracting investor attention. These sectors require long-term policy certainty because projects depend on grid access, permitting, tariff structures and reliable revenue models.

Green infrastructure, low-carbon transport and nature-based solutions are also gaining interest. But capital will move fastest where governments provide clear investment rules, predictable transition pathways and credible national targets.

The report shows that investors are becoming more practical. They are no longer only setting portfolio-level climate targets. They are asking governments to create the conditions needed for real projects to be financed.

Transition Plans Remain the Missing Link

Investor climate commitments are rising, but implementation remains uneven. The share of investors with net zero portfolio pledges increased to 45% in 2025 from 40% in 2024, while 33% have set interim targets.

However, only 22% of investors published a climate transition plan in 2025, unchanged from the previous year. This gap matters because transition plans connect targets with capital allocation, engagement priorities and risk management.

Just transition strategies are even less developed. Only 11% of investors have adopted one, showing that social and regional impacts remain under-integrated in climate finance.

Asia’s transition will require place-based planning. Coal-heavy markets, export-driven manufacturing hubs, emerging economies and advanced financial centres all need different pathways.

For metals producers and industrial companies, this creates both opportunity and scrutiny. Investors will increasingly prefer companies with credible decarbonisation strategies, resilient supply chains and exposure to climate-enabling materials.

The broader message is clear. Climate finance in Asia is moving from ambition toward execution, but policy certainty and transition planning must improve before capital can scale at the speed required.

The Metalnomist Commentary

Asian investors are telling governments that climate capital needs bankable rules, not slogans. For metals markets, the strongest signal is energy storage: policy clarity could turn climate finance into real demand for copper, aluminium, lithium and grid materials.

India Waives Duties on Critical Minerals in 2024-25 Budget

In a strategic move to bolster key industrial sectors, India has announced the reduction or elimination of custom duties on 25 critical minerals, including lithium, copper, cobalt, and rare earths. However, the government will maintain its tax on copper scrap. This announcement was made by India's finance minister, Nirmala Sitharaman, during her 2024-25 fiscal year budget speech.

The full list of the 25 critical minerals has not been disclosed, but these minerals are deemed essential for industries such as nuclear energy, renewable energy, space, defense, telecommunications, and high-tech electronics. Of these 25 minerals, 23 will be fully exempt from custom duties, while the remaining two will see a reduction in duties.

Additionally, India is launching a critical mineral mission to strengthen the supply chain for these essential minerals, encouraging both private and public sectors to enhance their long-term competitiveness.

The budget also includes significant reductions in customs duties on precious metals. Duties on gold and silver have been lowered to 6%, and platinum to 6.4%. Furthermore, the basic customs duty on ferro-nickel, crucial for stainless steel production, has been waived to improve domestic production efficiency.

The duty on copper scrap remains at 2.5%, but the duty on blister copper has been reduced to zero from 2.5%. This measure aims to support the domestic copper industry by lowering import costs.

In its efforts to support environmental goals, the government has continued the zero customs duty on ferrous scrap and nickel cathode, aligning with its commitment to achieving net-zero carbon emissions. A new carbon market will also be established to aid the steel and cement sectors in reducing their greenhouse gas emissions. The government plans to launch this domestic compliance carbon market by the end of the year to help industries meet their emissions intensity targets.

Mercedes bets on green aluminium from Norway's Hydro for next-gen CLA

Mercedes aluminium body

Mercedes is turning to green aluminium from Norway's Hydro to cut embedded emissions in its new CLA model. The green aluminium from Norway's Hydro is certified at just 3kg of CO₂ per kilogram of metal across mining, refining, smelting and casting. This compares with a global average of 16.7kg, giving Mercedes a meaningful reduction in material-related emissions. The alloy also contains 25pc post-consumer scrap, which further lowers its lifecycle footprint and supports circular-economy targets.

However, the company’s claim that CLA production is “net carbon-neutral” still depends on offsets. Mercedes powers the plant with 100pc renewable electricity, mainly externally sourced hydropower, which materially cuts scope 2 emissions. But scope 1 emissions from on-site processes and logistics, as well as upstream emissions from suppliers, remain. Therefore, the move to green aluminium from Norway's Hydro is a genuine step forward, even if the overall net-zero claim rests partly on controversial offset mechanisms that investors often scrutinise.

Green aluminium supports low-carbon steel and battery initiatives

The CLA’s use of green aluminium from Norway's Hydro forms part of a broader materials decarbonisation strategy. Mercedes says its latest battery cell design cuts emissions by about 30pc per cell through renewable energy in anode and cathode production. The company also relies on “net carbon-neutral” cell manufacturing at suppliers, since it does not produce cells in-house. As a result, the true impact depends on supplier practices and verification of their renewable power usage.

Meanwhile, Mercedes is layering in low-carbon steel to tackle emissions in chassis and body-in-white applications. The CLA incorporates steel from US producer Nucor’s Econiq-RE range, made using 100pc renewable energy. Mercedes also has a deal with Steel Dynamics for more than 50,000 t/yr of CO₂-reduced steel for its Tuscaloosa plant. Together with green aluminium from Norway's Hydro, these supply contracts show how OEMs are weaponising procurement to reduce embodied carbon ahead of incoming carbon border measures.

Demand for certified green aluminium rises faster than headline prices

Demand for certified low-carbon aluminium is rising as automakers prepare for tighter climate regulations and potential carbon border charges. Carmakers want to cut embedded emissions at the material level, especially for high-intensity metals such as aluminium and steel. This is likely to support growing premiums for Hydro’s Reduxa-style green aluminium grades and similar products from competitors. As a result, upstream smelters with renewable power and high scrap usage gain a strategic pricing advantage.

However, headline aluminium prices on global exchanges remain relatively stable despite bullish long-term forecasts. London Metal Exchange cash aluminium has traded in a narrow range over the past year, even as demand for differentiated “green” material accelerates. This suggests that the value is migrating into contract premiums and long-term offtake deals instead of the base price. Over time, producers unable to demonstrate low-carbon credentials may find themselves pushed into a discounted “grey” segment of the market.

The Metalnomist Commentary

Mercedes’ partnership around green aluminium from Norway's Hydro shows how decarbonisation is increasingly driven by procurement, not just tailpipe regulation. For metals producers, the message is clear: access to cheap renewable power and high-quality scrap streams will shape competitiveness more than pure tonnage growth. As carbon accounting tightens, the premium for verifiable low-carbon tonnes is likely to widen, rewarding early movers across the aluminium value chain.

EU and UK Move Toward Linking Carbon Markets

EU and UK

The EU and UK have formally agreed to work toward linking their carbon emissions trading systems (ETS), a move expected to benefit both industries and climate policy alignment. The announcement, made during a summit in London, emphasized that a EU and UK carbon markets link would support fair trade and reduce carbon leakage between jurisdictions. According to the joint statement, such a link would also exempt both regions from their respective carbon border adjustment mechanisms (CBAM), providing a more level playing field for domestic industries while maintaining environmental ambition.

ETS Link Could Unlock Significant Economic Gains

The linking of the EU and UK carbon markets could generate significant cost savings. UK Prime Minister Keir Starmer claimed British businesses could save £800 million in EU carbon taxes, while a recent industry-commissioned study projected up to €1.2 billion in savings from lower hedging costs due to improved market liquidity. While there is no timeline for implementation, market participants note that linking the Swiss ETS to the EU’s system took nearly a decade. Still, the potential economic efficiency and regulatory clarity have made the EU and UK carbon markets discussion a top priority for energy-intensive sectors across Europe.

Shared Climate Goals, Independent Ambitions

The agreement stressed that neither side should be constrained from pursuing more ambitious climate goals. The UK’s ETS remains guided by the legally binding Climate Change Act and its Paris Agreement commitments. The UK targets a 68% GHG reduction by 2030 and 81% by 2035, compared to 1990 levels. The EU aims for a 55% net reduction by 2030 and is still shaping its 2035 benchmark. Despite regulatory differences, both jurisdictions reaffirmed their commitment to net-zero emissions by 2050. The agreement also includes cooperation on hydrogen, CCS, biomethane, and a potential UK entry into the EU’s internal power market—further aligning EU and UK carbon markets within a broader clean energy framework.

The Metalnomist Commentary

The potential linkage of EU and UK carbon markets signals a return to pragmatic climate diplomacy. While structural alignment will take time, the economic and environmental incentives suggest both sides are committed to meaningful integration—setting a precedent for future carbon market collaborations globally.

UK Seventh Carbon Budget Sets 87% Emissions Cut Target for 2038-42

Climate Change Committee

The UK seventh carbon budget sets a legally binding ceiling of 535mn t of CO₂ equivalent for 2038-42, equivalent to roughly an 87% reduction in greenhouse gas emissions from 1990 levels. The target includes the UK’s share of international aviation and shipping emissions.

The UK seventh carbon budget gives energy-intensive industries a clearer long-term decarbonisation trajectory. Steel, aluminium, chemicals, transport and other industrial sectors will increasingly need to align capital spending with lower-carbon power, electrification and emissions reduction.

The UK seventh carbon budget follows the recommendation of the independent Climate Change Committee. The CCC identifies electrification and low-carbon electricity as the largest contributors to its pathway, accounting for around 60% of required emissions reductions by 2040.

The target strengthens the investment signal around renewable power, nuclear energy, grids and industrial electrification. It also reinforces the UK’s legally binding objective of reaching net-zero greenhouse gas emissions by 2050.

Industrial Decarbonisation Will Require More Clean Power and Metals

The new carbon budget has direct implications for UK manufacturing. Deep emissions reductions will require industry to replace fossil fuel consumption with electricity, low-carbon fuels and more efficient production processes.

For metals markets, that transition creates additional demand for copper, aluminium and electrical steel. Grid expansion, renewable power, electric transport and industrial electrification all require substantial quantities of conductive and structural materials.

The target can also increase pressure on high-emission materials producers. Steel and aluminium customers are increasingly tracking embedded carbon, while future investment decisions will depend more heavily on access to competitive low-carbon electricity.

Energy security is another part of the policy case. The UK government argues that greater reliance on domestic clean power can reduce exposure to volatile imported fossil fuel markets, while the CCC has similarly linked its recommended pathway with lower dependence on imported fuels.

This creates both risk and opportunity for industry. Companies with access to renewable power, recycling, efficient processing and lower-carbon technologies may gain an advantage as the emissions ceiling tightens.

Long-Term Target Gives Investors a Clearer Policy Signal

Carbon budgets cap total UK greenhouse gas emissions over five-year periods, giving companies a longer planning horizon than annual targets. The seventh budget extends that framework through 2042.

That certainty matters for infrastructure with long investment cycles. Power networks, nuclear projects, smelters, industrial plants and transport systems often require capital decisions many years before new capacity begins operating.

The government has said a specific delivery plan for the seventh carbon budget will follow, setting out how the target will be achieved. The existing Carbon Budget and Growth Delivery Plan covers earlier budgets through 2037.

The industrial challenge will therefore shift from setting the target to allocating the cost of delivery. Power availability, grid expansion, industrial support and technology investment will determine whether UK manufacturers can cut emissions without losing competitiveness.

The Metalnomist Commentary

The seventh carbon budget gives UK industry a clear direction, but the real test is whether clean electricity and grid capacity expand fast enough to support it. For metals producers, lower-carbon power could become as important to competitiveness as raw material cost.

UK Investment Revives Cornish Tin Mine

Cornish Metals

The UK's National Wealth Fund (NWF) is investing £28.6mn ($35.6mn) to reopen Cornish Metals Inc's South Crofty tin mine in Cornwall. This initiative aims to bolster the UK's critical mineral supply.

Funding to De-risk Historic Tin Mine

The NWF, owned by HM Treasury, contributes to a £56mn funding effort. This investment will refurbish and maintain the South Crofty mine, closed since 1998 after 400 years of tin production. The government's support aligns with its strategy to secure critical minerals. "Critical minerals are not only an important driver of the UK's transition to net zero, but also of the UK's growth mission," stated NWF chief executive John Flint. This investment follows the NWF's £24mn investment in Cornish Lithium in August 2023. The LME three-month tin price settled at $30,175/t.

SUPER METAL PRICE Launches 'The Metals Grade Atlas' eBook: A Definitive Handbook for the Specialty Metals Industry

eBook: 'The Metals Grade Atlas'

An 815-page authoritative guide to titanium, nickel, and iron alloys sets a new global standard in advanced materials selection.

SUPER METAL PRICE, a global intelligence platform specializing in metals markets, has officially released The Metals Grade Atlas, a comprehensive digital reference for high-performance specialty metals used in modern industries.

A Complete Guidebook for Extreme Industrial Conditions in the 21st Century

This 815-page volume presents a systematic overview of materials engineered to withstand extreme environments, including aerospace, power generation, chemical processing, medical devices, and offshore platforms.

The Metals Grade Atlas provides essential data for materials capable of enduring ultra-high temperatures, corrosion, and mechanical stress—such as jet turbine blades operating above 1000°C, or gas turbines in power plants that function under thermal extremes exceeding 1200°C.

Covering the Full Spectrum of Titanium, Nickel, and Iron Alloys

The publication categorizes cutting-edge alloys into three key material families:

◎ Titanium Alloys – Lightweight and corrosion-resistant innovations

• Core material in aerospace applications for airframes, engine components, and landing gear
• Exceptional strength-to-weight ratio enhances fuel efficiency and payload
• Proven durability in chloride- and H₂S-rich offshore environments
• High biocompatibility and long-term stability for medical implants

◎ Nickel-based Superalloys – Designed to conquer extreme temperatures

• Resilient beyond 1200°C with excellent thermal and mechanical stability
• Ideal for turbine blades, combustors, and disks in power generation systems
• High resistance to creep, oxidation, and thermal cycling in jet engine hot zones
• Key material in high-temperature petrochemical reactors and heat exchangers

◎ Special Iron Alloys – The structural backbone of industrial infrastructure

• High-strength steels for shipbuilding, construction, automotive, and renewable energy
• Covers a wide range from ultra-high-strength to abrasion-resistant grades
• Enhanced fatigue performance and weldability in marine applications
• Delivers both weight reduction and crash safety in automotive structures
• Specialized grades for wind turbine towers and heavy-duty bearings

A Practical Data Library for Industry Professionals

Each alloy in The Metals Grade Atlas includes:

• Chemical composition and mechanical properties
• Corrosion resistance and high-temperature performance
• Fatigue strength and weldability indexes
• Real-world application examples and selection criteria
• Cost-performance considerations to support design decisions

Supporting Engineering Decision-Making

Going beyond material specifications, the book offers a structured framework for material selection in actual engineering practice. It assists professionals in benchmarking, processability assessment, and cost-performance analysis to guide optimal alloy choices.

A Strategic Companion for Industrial Innovation

SUPER METAL PRICE stated, "We sincerely hope this publication becomes a trusted and indispensable reference for design engineers, material scientists, and quality professionals striving to make precise, performance-driven, and economically sound material decisions."

The company further emphasized, "This book aims to serve as a compass for understanding, developing, and applying advanced metals in the pursuit of next-generation industrial innovation."

Global Market Insights and Future Outlook

With net-zero targets and energy transitions accelerating worldwide, demand for high-performance specialty metals is rising sharply. Policies such as the EU’s CBAM and the U.S. IRA have further highlighted the strategic value of specialty alloys. Industry experts have praised The Metals Grade Atlas as a long-awaited professional handbook that offers both comprehensive coverage and practical utility in the field.

Publication Details

• Title: The Metals Grade Atlas (eBook)
• Publisher: SUPER METAL PRICE
• Release Date: June 1, 2025
• Language: English
• File Size: 12.9MB
• Length: 815 pages

Available at: www.supermetalprice.com

About SUPER METAL PRICE

SUPER METAL PRICE is a global intelligence platform delivering in-depth analysis and real-time news on the metal markets. Its coverage spans steel, non-ferrous metals, rare earths, and energy-transition materials, with expert insights into pricing trends, tariffs, trade policies, and technical innovations across major regions including the U.S., Europe, China, and India.

Following The Metals Grade Atlas, the company plans to expand its specialty metals portfolio with future publications, including a Rare Earth Handbook and a Recycling Technology Guide.

Contact

Website: www.supermetalprice.com

eBook Purchase: Visit the digital download page

This press release is based on publicly available information from SUPER METAL PRICE.

BHP renewable power for copper projects accelerates South Australia’s low-carbon shift

BHP

BHP renewable power for copper projects is moving from strategy to execution in South Australia. The new deals with Neoen link Olympic Dam, Carrapateena and Prominent Hill to dedicated wind and battery assets, reshaping their long-term emissions profile. As a result, BHP renewable power for copper projects is becoming central to the group’s decarbonisation roadmap and its compliance with Australia’s safeguard mechanism.

Wind, storage and safeguard compliance for Olympic Dam

BHP will source 100MW of renewable electricity from Neoen’s 300MW Goyder North wind farm and 200MW Goyder battery. This follows an earlier contract for 70MW from Goyder South, which has supplied Olympic Dam since July. Together, these agreements should cover about 70pc of BHP’s copper-related electricity demand in South Australia by 2030.

Olympic Dam falls under Australia’s safeguard mechanism, where on-site generation counts towards covered scope 1 emissions. In 2023-24, Olympic Dam produced 244,321t of CO₂e, staying just below its 246,875t baseline. Therefore, BHP renewable power for copper projects is not just an ESG narrative but a direct tool for avoiding the surrender of additional ACCUs or safeguard credits.

Meanwhile, BHP still surrendered 47,000 ACCUs across 16 other facilities, including iron ore, coal and nickel operations. This highlights how decarbonisation progress remains uneven across the portfolio. However, the South Australian power strategy shows how dedicated renewable contracts can reduce both compliance risk and long-term power-price exposure.

Copper decarbonisation, diesel displacement and long-term risk

BHP is targeting a 30pc cut in operational greenhouse gas emissions by 2029-30 versus 2019-20 levels. The group has already reduced operational emissions to 8.7mn t CO₂e, a 36pc decline from that baseline. In this context, BHP renewable power for copper projects provides a tangible bridge between climate commitments and actual asset-level performance.

The company ultimately aims for net-zero operational emissions by 2050, mainly by displacing diesel in its mining fleets. Progress here has lagged because of technical delays in low-emission vehicle deployment. However, locking in large-scale renewable power for copper operations buys valuable time while mobile-equipment solutions mature.

For customers and policymakers, BHP renewable power for copper projects offers a clearer line of sight to lower-carbon copper supply. This matters as OEMs, grid operators and EV supply chains increasingly differentiate between standard and low-emission copper units. It also strengthens South Australia’s positioning as a hub for renewable-powered mining and processing.

The Metalnomist Commentary

BHP’s structured shift into contracted wind and storage underscores how decarbonisation is becoming a core competitiveness issue for copper miners. For metals buyers, the next phase will involve translating these renewable power deals into quantifiable, auditable carbon advantages at the cathode, rod and cable level.

SSAB Delays Lulea Fossil-Free Steel Mill Project by One Year

SSAB

Electricity Supply Delays Impact Lulea Mini-Mill Timeline

Swedish steelmaker SSAB has postponed the transformation of its Lulea facility into a fossil-free mini-mill by one year. The delay is attributed to setbacks in securing sufficient electricity supply, caused by regional grid upgrade issues. Construction of key substations has been hindered by outage planning problems, leaving the site without the power needed to operate its electric arc furnaces (EAF).

Investment and Production Targets at Risk

SSAB initially approved a €4.5bn investment in January 2022 to build the new mini-mill, replacing its existing blast furnace-based production. The facility will feature two EAFs, a direct strip rolling mill, and a cold rolling line for automotive steels. Once operational, the site is expected to produce 2.5mn t/yr of steel using both recycled scrap and fossil-free sponge iron from the Hybrid demonstration plant in Gallivare. Plans originally targeted 2028 for the first EAF to become operational, reaching full capacity in 2029. However, these milestones are now delayed by one year.

Despite the postponement, SSAB confirmed it will still move forward with EAF installation and maintain its long-term transition strategy. In late 2024, the company secured a €128mn grant from the European Commission to support the transition from coal-based production to a near net-zero emission system, reinforcing its commitment to sustainability despite the temporary setback.

The Metalnomist Commentary

SSAB’s delay underscores the critical role of reliable electricity infrastructure in steel sector decarbonisation. Without timely grid upgrades, even large investments risk losing momentum. The company’s continued push toward fossil-free steel highlights both the opportunities and challenges of Europe’s green industrial transition.

EGA Launches Digital System to Track Greenhouse Gas Emissions

Emirates Global Aluminium (EGA)

UAE-based Emirates Global Aluminium (EGA) has introduced a digital system to track Scope 1 and 2 greenhouse gas emissions. The platform automates the monitoring, documentation, and independent third-party validation of emissions data. 

This centralised Measurement, Reporting, and Verification (MRV) system will provide standardised dashboards to key stakeholders, including government organisations and customers.

The system aligns with the UAE’s integrated emissions and air quality tracking initiative, the first of its kind in the region, supporting the nation’s 2050 net-zero goal.

EGA CEO Abdulnasser Bin Kalban stated, “Our MRV solution ensures compliance with regulatory changes while enhancing transparency and auditability across the production value chain.”

IEA Ministerial Meeting Split Over Energy Transition as US and Europe Diverge

IEA

The IEA ministerial meeting split over energy transition exposed a deeper divide between the United States and Europe. The agency issued a chair’s summary instead of a full communique after ministers failed to reach common language. That change signaled that disagreement was too wide for a unified closing text. As a result, the IEA ministerial meeting split over energy transition became the main outcome of the Paris gathering.

The wording of the summary showed that divide clearly. References to climate, emissions, and renewables were qualified and limited. The document also reduced the emphasis on climate language compared with past meetings. Therefore, the IEA energy transition divide is now visible not only in speeches, but also in official meeting language.

The US pushed hardest against the agency’s current direction. Energy secretary Chris Wright criticized the IEA’s transition focus and warned that Washington could increase pressure for reform. Europe answered from a different angle. European officials defended the transition as a matter of energy security rather than climate messaging alone. Consequently, the debate shifted from whether transition matters to why it matters.

Energy Security and Electrification Became Europe’s Main Response

Energy security and electrification became the core European response to the US challenge. French officials argued that dependence on fossil fuels leaves Europe strategically exposed. They presented electrification as the practical answer to that vulnerability. This framing moved the transition debate toward resilience, sovereignty, and industrial stability.

That shift is important because it changes the political language of the transition. Europe is no longer relying only on emissions reduction as its lead argument. It is increasingly presenting clean energy as a security tool. Meanwhile, the US is pushing for a narrower institutional focus on traditional supply concerns. That contrast explains why the IEA ministerial meeting split over energy transition became so difficult to bridge.

The IEA itself now faces a delicate balancing act. Fatih Birol did not confirm whether the agency will keep its net-zero scenario in the next outlook. However, he said the agency will continue examining emissions across its scenarios. That suggests the IEA is trying to preserve analytical breadth while managing growing political pressure.

One area still produced agreement. Ministers supported a joint declaration on critical mineral supply security. That result matters because it shows common ground still exists where energy, industry, and strategic supply chains overlap. Therefore, even as the IEA energy transition divide widens, critical minerals may remain the most workable area for international cooperation.

The Metalnomist Commentary

This meeting showed that the global energy debate has entered a more political phase. The transition is no longer discussed only as a climate pathway. It is now a contest over security, industrial policy, and institutional control. The IEA will likely remain central to that struggle, especially as critical minerals and electrification move closer to the heart of energy strategy.

EU BEV Industry Faces Challenges Without Strong CO2 Targets and Tariffs

The European Union's battery electric vehicle (BEV) market is at risk of losing ground to Chinese-owned brands unless the EU enforces its planned CO2 emission reduction targets along with newly proposed tariffs on Chinese-made electric vehicles (EVs). According to Transport & Environment (T&E), a leading environmental lobby group, these measures are essential to maintaining the competitive edge of European carmakers. The European Commission announced today that it will proceed with provisional tariffs on Chinese-manufactured EVs, signaling a critical step in addressing market imbalances.

CO2 Targets Key to Curbing Chinese BEV Imports

T&E's analysis shows a significant increase in the market share of Chinese-owned BEV brands, projecting that imports will constitute over 12% of the EU market this year, up from 8% last year. In contrast, non-Chinese brands are expected to see a slight rise to 13%. Without the enforcement of CO2 reduction targets, T&E forecasts that Chinese brands could capture nearly 15% of the market by next year, a trend that could weaken local BEV producers unless incentives are aligned to encourage a shift towards carbon-neutral vehicles.

The EU has established CO2 targets that require all automakers to achieve net zero emissions across their fleets by 2035, with interim milestones starting next year. However, recent debates and scrutiny have created uncertainty, prompting resistance from industry players. Aurelien De Meaux, CEO of Electra, a Paris-based charging start-up, emphasized the need for policy stability, stating, "The path to 2035, including specific CO2 milestones, was established in 2014 and 2019. We rely on this stability to make informed and effective investments."

Tariffs Alone May Not Protect Western BEV Producers

While the European Commission's provisional tariffs aim to level the playing field, a report by the Rhodium Group suggests that tariffs alone might not suffice. Chinese brands continue to enjoy profit margins that can absorb the costs of EU tariffs, whereas Western brands like Tesla and BMW, which manufacture in China, could see diminished profitability if tariffs are enforced. This dynamic has led to concerns that the tariffs may inadvertently harm European carmakers with overseas production facilities.

Additionally, China's response to these tariffs has included the potential for retaliatory measures on other goods, and its automakers are considering expanding production capacity overseas. Since 2022, 11 Chinese-owned EV plants have been planned in Europe, but only three have advanced past initial planning, primarily due to tariff uncertainties.

The situation is further complicated by instability in the battery production sector. According to T&E, 59% of the planned battery production capacity in Europe is "less likely" to proceed by 2030, adding to the challenges faced by the EU's BEV industry. Maintaining a clear and consistent regulatory approach will be crucial to incentivizing local production and reducing dependency on imports, ensuring the long-term sustainability of Europe's BEV market.

Toyota Launches UK Battery Recycling Plant to Advance Circular Economy Goals

Toyota, UK Battery Recycling

Burnaston Facility Will Recover Key EV Battery Materials and Support EU Carbon Neutrality Targets

Toyota Builds First Circular Factory in the UK

Toyota has announced plans to open a new battery recycling plant in Burnaston, Derbyshire, UK. The site will process end-of-life electric vehicles and recover critical battery materials such as nickel, cobalt, lithium, and graphite. This project marks the automaker’s first “Toyota Circular Factory,” aimed at promoting material reuse and sustainability.

The new facility, built on the grounds of Toyota’s existing Corolla production plant, will process up to 10,000 vehicles annually during its initial phase. In addition to batteries, the factory will recycle other vehicle parts to minimize waste and environmental impact.

Expansion Across Europe and Net-Zero Ambitions

Toyota Motor Europe’s Vice President of Circular Economy, Leon van der Merwe, confirmed that the UK facility is just the beginning. “As a next step for the Toyota Circular Factory concept, we plan to roll out similar operations across Europe,” he said. He also stressed the company's openness to collaborating with other organizations focused on circularity and carbon neutrality.

The initiative aligns with Toyota’s broader sustainability commitments. The company aims to achieve full carbon neutrality across all operations by 2040 and reduce vehicle carbon emissions in Europe by 100% by 2035. This recycling plant will play a crucial role in achieving these targets by closing the loop on electric vehicle battery materials.