Green Metals: Copper is the New Oil
The critical role copper will play in achieving the Paris climate goals cannot be overstated. Without serious advancements in carbon capture and storage technology in the coming years, the entire path to net zero emissions will have to come from abatement - electrification and renewable energy. As the most cost-effective conductive material, copper sits at the heart of capturing, storing and transporting these new sources of energy. In fact, discussions of peak oil demand overlook the fact that without a surge in the use of copper and other key metals, the substitution of renewables for oil will not happen. GS Research analysts argue that green metals – copper in particular – are critical to moving the global economy toward net zero emissions.