A Lithium Renaissance Driving Electric Vehicles, Thematic ETFs March 11, 2021
As the fight against climate change gains traction, the boom in the electric vehicle industry has helped fuel demand for lithium, charging up mining and battery ETFs in the process.
Over the past year, the
According to Benchmark Mineral Intelligence, lithium carbonate, a compound of the silvery metal used in batteries that power most electric car automobiles, has surged 68% since the start of the year to $11,250 a metric ton, the Wall Street Journal reports.
Analysts and industry executives argued that the coronavirus pandemic could be a turning point for the lithium market. Many believed that the end to lockdowns could support pent-up demand for electric cars that has diminished surplus stocks of the lithium metal. Meanwhile, global governments have emerged from recessions with pledges to invest in clean-energy projects as part of their recovery plans.
‘We Need to Be Bold,’ Biden Says, Taking the First Steps in a Major Shift in Climate Policy
Environmental justice, scientific integrity, climate’s threat to national security and weaning off fossil fuels. It’s a big agenda and an emphatic rejection of the last four years.
January 28, 2021
President Joe Biden prepares to sign executive orders after speaking about climate change issues in the State Dining Room of the White House on January 27, 2021 in Washington, DC. Credit: Anna Moneymaker-Pool/Getty Images
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The sweeping executive orders that President Joe Biden signed on Wednesday will not, by themselves, cut greenhouse gas emissions.