The Global Resources Outlook report includes a series of proposals where people’s needs are provided in far more intelligent ways than today.
The focus is on reducing waste and overconsumption, speeding up a transition from linear to circular material flows, extending product life, giving priority to systems for reuse and renovation and a transition to a service economy, where products become services.
A transition from linear to circular materials would facilitate the energy transition and make it considerably cheaper. Today, for example, only 1% of lithium is recycled. The potential is therefore great to establish a reliable supply of recycled materials.
According to the report, optimising systems such as urban mobility and the utilisation of housing and premises can reduce energy demand globally by around 50% by 2060 (compared with business as usual). In addition, optimising mobility would reduce the annual demand for copper in transport by around 60%.
The report proposes a series of reforms. These include the establishment of an international resource agency that can continuously monitor and propose measures for a more efficient and fair use of resources.
It also proposes tax reforms so that taxes on resource extraction are raised, while taxes on human labour are lowered.
Commodity market legislation should be tightened to avoid a race to the bottom in terms of environmental and social standards.
Finally, as much as possible of the value of the material extraction and processing should remain in the host country.
