Carbon Leakage & Critical Minerals: Tackling the Hidden Challenges of a Green Future - Alex Simakov

- Addressing carbon leakage through trade tariffs on carbon-intensive goods
- EU and UK have emissions trading schemes, pricing carbon allowances
- EU moving forward with carbon leakage legislation, gradually expanding its scope
- US considering green steel and aluminum pact with EU, setting maximum carbon limits
- UK investing in decarbonizing power systems, factoring environmental costs into market prices
- Need to focus on critical minerals, as China has potential to apply economic leverage
- Strategic critical mineral reserves can help build supply stocks and stabilize prices
- Contracts for differences can provide a minimum floor price for illiquid metals
- Long-term plan (10-20 years) needed to address critical mineral supply and reach 2050 targets

Alex is a Senior Fellow with Policy Exchange’s Energy & Environment Unit. Alex served as Policy Advisor to the Hon. Greg Rickford, the Province of Ontario’s former Minister of Energy, Northern Development & Mines, and worked as a business strategist and government affairs consultant for many of Canada’s leading clean technology companies.

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