China’s Grip On Rare Earth Elements Loosens • Carbon Credits
FRICTION FROM THE WEST IS LOOSENING CHINA’S GRIP ON RARE EARTHS ELEMENTS As the world grapples with the urgent need for decarbonization to combat climate change, China’s top position in the production of rare earth elements (REEs) and its growing influence in the carbon credit market have had profound implications for the global energy transition China currently dominates the market supplying over 80% of the world’s rare earth elements. Considered a monopoly in most political circles, its prominent position has