Investing in Fusion Energy & Global Cooperation in 2024 | WEF | Top Stories of the Week

This week's top stories of the week include:

0:15 This steelmaker is investing in fusion energy – Fusion can generate 100% zero-carbon electricity and could help decarbonize steel manufacturing. Steelmaker Nucor is partnering with fusion start-up Helion to build the plant. The steel industry accounts for 7% of global CO2 emissions. Largely due to blast furnace steelmakers which use coal as an essential ingredient in the steelmaking process. Nucor uses electric-arc furnaces instead, a recycling-based circular method.

2:12 The green revolution depends on these 5 materials – Globally, renewable energy capacity needs to triple by 2030, according to the UAE Consensus, agreed at COP28. As clean energy technologies use large quantities of minerals, demand for them is likely to soar. To power the energy transition, the world needs to secure a reliable supply of critical minerals while avoiding the threats of irresponsible practices, geopolitical tensions and price inflations. All while avoiding a delay in the adoption of clean technologies.

4:06 What's the state of global cooperation in 2024? – Global cooperation is showing signs of strength in some arenas such as collective commitments on climate and nature and trade and capital flows. However, it’s falling sharply in the arena of geopolitical peace and security and risks going into sustained decline. leaving the world ill-equipped to cope with challenges.

5:59 These practical actions can save energy – They could save the global economy up to $2 trillion per year. If applied to buildings, industry and transport by 2030. This would also avoid the need for 3,000 new power stations. These measures can be put in place today using existing technologies and without reducing economic output.

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