Abstract

The Paris Agreement on climate change came into force on 4 November 2016 which was adopted by 196 Parties at the UN Climate Change Conference (COP21) in Paris on 12 December 2015. Under this agreement, 175 countries are legally bound to commit themselves to limit the increase of global warming temperatures to under 2 °C above pre-industrial levels. To achieve this goal, mitigation and adaptation policies have been adopted at the national and international levels. Mitigation measures include decarbonisation policy, for example the large-scale development of low-carbon energies to replace fossil fuel energy in a sustainable way. At present, efforts are focussed on the energy transition from fossil fuel driven energy to low-carbon energy which is mineral intensive. Rare earth elements (REEs) are core components of clean energy technologies such as solar, wind turbines and electric vehicles in the process of energy transition. In the quest for slow down the global temperature rise, development of low-carbon energy to achieve carbon emission reduction goals, rare earth elements are the key components to the energy transition. The criticality of supply and demand of raw materials is the key issue in planning the sustainable transition from fossil fuel driven energy to green energy. Over the past few years many countries established critical raw materials lists, in which rare earth elements have been given most attention.

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