The electric vehicle (EV) revolution has been lauded as a game-changer in the fight against climate change, promising to reduce carbon emissions and promote sustainable transportation. Governments worldwide are investing heavily in this transition through subsidies, policies, and infrastructure development.
While EVs undoubtedly play a role in reducing emissions, the narrative surrounding their unblemished benefits deserves a closer look. An analysis reveals that the EV revolution is not the panacea it is portrayed to be. Resource constraints, environmental implications, and socio-economic challenges raise questions about the long-term sustainability of this shift.
At first glance, EVs seem like an environmental savior, producing zero tailpipe emissions. But this ignores the significant resource demands and environmental costs tied to their production, especially the manufacturing of lithium-ion batteries, their main engine.
Lithium and cobalt, critical components of EV batteries, are extracted at a staggering environmental and social cost. Around 70% of the world's lithium reserves are concentrated in the "lithium triangle" of Argentina, Chile, and Bolivia, where mining operations are water-intensive, depleting resources in already arid regions. Cobalt, predominantly sourced from Congo, presents an equally troubling scenario. Reports of hazardous working conditions, child labor, corruption, and geopolitical tensions prevail in the dark underbelly of cobalt mining. The skyrocketing demand for these minerals risks triggering resource scarcity and "resource wars" as nations vie for economic power driven by fuel – whoever controls the fuel gains power.
Denne historien er fra January 04, 2025-utgaven av Financial Express Bengaluru.
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Denne historien er fra January 04, 2025-utgaven av Financial Express Bengaluru.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Top IITs See a Drop in Campus Placements
● More students likely getting jobs independently
Top IITs see a drop in campus placements
• More students likely getting jobs independently
US set to lift curbs on Indian nuclear entities
EYEING DEEPER ENERGY TIES
ICC explores two-tier Test cricket system
ICC chief Jay Shah will meet Cricket Australia chair Mike Baird and his England counterpart Richard Thompson to discuss the finer points
Centre eyes private capital for $107-bn grid expansion
INDIA IS ASKING states to attract more private capital to accelerate the expansion of its power transmission network, part of a plan to revamp the country's grid and accommodate more clean power.
Dam over Brahmaputra not to impact water flows to India
CHINA ON MONDAY reiterated its plan to build the world's biggest dam over the Brahmaputra River in Tibet near the Indian border, saying the planned project has gone through rigorous scientific verification and will not have any negative impact on downstream countries -- India and Bangladesh.
D-Street catches flu
Headwinds for markets at the start of the year include higher US 10-year yields and a stronger dollar, the potential imposition of additional US tariffs on Asia-Pacific economies, and elevated economic policy uncertainty and geopolitical risk, Goldman Sachs strategists said in a note while trimming the MSCI Asia Pacific ex-Japan index's target to 620 from 630, as per a Bloomberg report.
D-Street catches flu
HEADWINDS FOR MARKETS at the start of the year include higher US 10-year yields and a stronger dollar, the potential imposition of additional US tariffs on Asia-Pacific economies, and elevated economic policy uncertainty and geopolitical risk, Goldman Sachs strategists said in a note while trimming the MSCI Asia Pacific ex-Japan index's target to 620 from 630, as per a Bloomberg report.
Q-comm boost to gig worker hiring in 2025
THE HIRING BOOM will be driven by the expansion of dark stores, fuelled by new entrants and increased investments from established players.
Banks, NBFCs See Hit to...
THESE SUBSIDIARIES THEN use the data to approach the customer and offer products and services such as insurance, mutual funds, demat accounts and other related financial solutions.
