Visualizing EV Sales Around the World
It took five years to sell the first million electric cars. In 2018, it took only six months.
The Tesla Model 3 also passed a significant milestone in 2018, becoming the first electric vehicle (EV) to crack the 100,000 sales mark in a single year. The Nissan LEAF and BAIC EC-Series are both likely to surpass the 100,000 this year as well.
Although the electric vehicle market didn’t grow as fast as some experts initially projected, it appears that EV sales are finally hitting their stride around the world. Below are the countries where electric vehicles are a biggest part of the sales mix.
The EV Capital of the World
Norway, after amassing a fortune through oil and gas extraction, made the conscious decision to create incentives for its citizens to purchase electric vehicles. As a result, the country is the undisputed leader in EV adoption.
In 2018, a one-third of all passenger vehicles were fully electric, and that percentage is only expected to increase in the near future. The Norwegian government has even set the ambitious target of requiring all new cars to be zero-emission by 2025.
That enthusiasm for EVs is spilling over to other countries in the region, which are also seeing a high percentage of EV sales. However, the five countries in which EVs are the most popular – Norway, Iceland, Sweden, Netherlands, and Finland – only account for 0.5% of the world’s population. For EV adoption to make any real impact on global emissions, drivers in high-growth/high–population countries will need to opt for electric powered vehicles. (Of course power grids will need to get greener as well, but that’s another topic.)
China’s Supercharged Impact
One large economy that is embracing plug-in vehicles is China.
The country leads the world in electric vehicle sales, with over a million new vehicles hitting the roads in 2018. Last year, more EVs were sold in Shenzhen and Shanghai than any country in the world, with the exception of the United States.
China also leads the world in another important metric – charging stations. Not only does China have the highest volume of chargers, many of them allow drivers to charge up faster.
Accelerating from the Slow Lane
In the United States, electric vehicle sales are rising, but they still tend to be highly concentrated in specific areas. In around half of states, EVs account for fewer than 1% of vehicle sales. On the other hand, California is approaching the 10% mark, a significant milestone for the most populous state.
Nationally, EV sales increased throughout 2018, with December registering nearly double the sales volume of the same month in 2017. Part of this surge in sales is driven by the Tesla’s Model 3, which led the market in the last quarter of 2018.
North of the border, in Canada, the situation is similar. EV sales are increasing, but not fast enough to meet targets set by the government. Canada aimed to have half a million EVs on the road by 2018, but missed that target by around 400,000 vehicles.
The big question now is whether the recent surge in sales is a temporary trend driven by government subsidies and showmanship of Elon Musk, or whether EVs are now becoming a mainstream option for drivers around the world.
The Carbon Emissions of Gold Mining
Gold has a long history as a precious metal, but just how many carbon emissions does mining it contribute to?
The Carbon Emissions of Gold Mining
As companies progress towards net-zero goals, decarbonizing all sectors, including mining, has become a vital need.
Gold has a long history as a valuable metal due to its rarity, durability, and universal acceptance as a store of value. However, traditional gold mining is a process that is taxing on the environment and a major contributor to the increasing carbon emissions in our atmosphere.
The above infographic from our sponsor Nature’s Vault provides an overview of the global carbon footprint of gold mining.
The Price of Gold
To understand more about the carbon emissions that gold mining contributes to, we need to understand the different scopes that all emissions fall under.
In the mining industry, these are divided into three scopes.
- Scope 1: These include direct emissions from operations.
- Scope 2: These are indirect emissions from power generation.
- Scope 3: These cover all other indirect emissions.
With this in mind, let’s break down annual emissions in CO2e tonnes using data from the World Gold Council as of 2019. Note that total emissions are rounded to the nearest 1,000.
|1||Mining, milling, concentrating and smelting||45,490,000|
|3||Suppliers, goods, and services||25,118,000|
Total annual emissions reach around 126,359,000 CO2e tonnes. To put this in perspective, that means that one year’s worth of gold mining is equivalent to burning nearly 300 million barrels of oil.
Gold in Nature’s Vault
A significant portion of gold’s downstream use is either for private investment or placed in banks. In other words, a large amount of gold is mined, milled, smelted, and transported only to be locked away again in a vault.
Nature’s Vault is decarbonizing the gold mining sector for both gold and impact investors by eliminating the most emission-intensive part of the mining process—mining itself.
By creating digital assets like the NaturesGold Token and the Pistol Lake NFT that monetize the preservation of gold in the ground, emissions and the environmental damage associated with gold mining are avoided.
How Does it Work?
Through the same forms of validation used in traditional mining by Canada’s National Instrument NI 43-101 and Australia’s Joint Ore Reserve Committee (JORC), Nature’s Vault first determines that there is gold in an ore body.
Then, using blockchain and asset fractionalization, the mineral rights and quantified in-ground gold associated with these mineral rights are tokenized.
This way, gold for investment can still be used without the emission-intensive process that goes into mining it. Therefore, these digital assets are an environmentally-friendly alternative to traditional gold investments.
Click here to learn more about gold in Nature’s Vault.
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