This is your weekly supply chain bulletin from B2BE for the week starting 24th July 2023.
Each week, we bring you a rundown of the latest trends in the news from across the supply chain industry. We cover the issues most important to you, bringing you useful links to the full articles. This ranges from news on various supply chain disruptions to strategies to lessen the damage. We also include other relevant supply chain related updates. If you missed it, you can read last week’s supply chain bulletin here. Read on to see what’s making the news this week.
Increased impact of climate change on the supply chain
Aldi is one of many companies that have been forced to rethink their supply chains due to the increasing impact of climate change. Extreme weather events have led to crop failures, shortages of goods, and higher prices for consumers. In order to build business resilience, companies are now looking at ways to reduce their reliance on long supply chains and to source goods locally. Aldi is working with its suppliers to reduce their carbon emissions, and is also investing in a transport network that is powered by electricity or sustainable fuels. The company is also considering sourcing more goods from countries that are less vulnerable to climate change.
Australia invests AU$50 million in Indo-Pacific solar supply chains
The Australian government has announced AU$50 million (US$33.7 million) in investment to develop renewable energy supply chains in the Indo-Pacific. The funding will support research to develop projects in Australia and southern and southeast Asian countries, particularly mentioning solar ingot and wafer production and battery cell component manufacturing.
This investment announcement follows a statement in May from the Quadrilateral Security Dialogue (Quad), a consortium of Australia, Japan, India and the US, outlining the principal importance of clean energy supply chains. The Quad said that diversified clean energy supply chains in the Indo-Pacific were “urgent and critical” to enhance collective energy security and support the global energy transition. It also highlighted the pursuit of environmental, social and governance (ESG) practices to make supply chains more transparent.
US Investment in Critical-Mineral Mining in Australia
The United States and Australia signed a climate, critical minerals and clean energy transformation compact in May 2023. The compact aims to strengthen cooperation between the two countries on climate change, clean energy technology, and critical-mineral supply chains. Critical minerals are essential for the production of clean energy technologies, such as electric vehicles and solar panels. China currently controls a significant share of the global critical-mineral supply chain, which has raised concerns about supply security.
The US and Australia have a shared interest in diversifying the global critical-mineral supply chain. The US could invest in Australian mines to secure access to critical minerals, while Australia could invest in US refining capacity to help meet global demand. A US-Australia partnership on critical minerals would be a win-win for both countries. It would help the US to secure access to critical minerals for its clean energy transition, while it would help Australia to develop its mining industry and create jobs.
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