Today I’ll dive into Goal 7 – Affordable and Clean Energy. Goal 7 has 3 parts:

  • Ensuring universal access to affordable, reliable and modern energy services;

  • Increasing substantially the share of renewable energy in the global energy mix by 2030;

  • Doubling the global rate of improvement in energy efficiency by 2030, including:

    • Enhancing international cooperation to facilitate access to research and development and advancements; and

    • Expanding infrastructure and upgrading technology for supplying sustainable energy services in all developing countries.

Those with a keen eye will already have noticed that many countries have moved beyond wording like “increasing substantially” to firm commitments to achieving carbon neutrality by 2050, with interim goals set from 2030 onwards. We support that move, and are committed to developing a tangible and measurable pathway to carbon neutrality.

In very simple terms, here’s how we will contribute to, and measure ourselves against, Goal 7:

  • Ensuring universal access to affordable, reliable and modern energy services:

    • We will work with our host countries to ensure any energy generation and use by Impossible Metals complies with their targets, contributes to the development of renewable energy infrastructure and services in the host country, and does not impact negatively on the host country’s targets and pathway for achieving carbon neutrality;

  • Increasing substantially the share of renewable energy in the global energy mix by 2030:

    • Our bioextraction plant(s) will be powered by renewable energy, which we will develop in the context of our host country’s national plans for renewable energy and pathway for achieving carbon neutrality. Given our bioextraction technology is still in the proof of concept stage, we anticipate reporting the formulation of these metrics and strategies as part of our 2023 Annual Plan.

  •  Doubling the global rate of improvement in energy efficiency by 2030:

    • We will work with our host countries to ensure that any energy generation and use by Impossible Metals meets the energy efficiency targets of the host country, or in the absence of targets, the guidance provided by the World Bank.