In what looks like a record year for elections around the world, 2024 will see new legislatures in several key nickel producing and using countries. Notably, Indonesia goes to the polls on February 14th, followed by the EU in spring and the US in the fall.  

The newly elected policy makers will need to get to grips rapidly with unprecedented challenges  both from a geopolitical and climate change point of view. The world is currently facing dynamics and developments that have a massive impact on people, on commercial markets, and on nature. And sustainability – which inextricably  connects society, economy and the environment – is at an all-time high on the agenda for authorities, industry, NGOs and consumers alike. 

The value of nickel

But what has this got to do with nickel? Nickel is widely recognised as a critical material in the energy transition and there is an increasing focus on its strategic importance. Nickel is one of the few materials whose diverse properties allow it to be used in an astonishingly wide variety of applications.

A major milestone for nickel was the early 1900s with the development of stainless steel, the uses of which are now countless, from household tableware, essential medical equipment, long lasting buildings and infrastructure as well as outdoor art. And now we are living through another important milestone. Nickel is a key material to advance the energy transition, as an important component in many stainless steels and alloys as well as in its role in batteries for electrical vehicles. Nickel plays a role, in some form in just about every renewable energy technology.

Nickel is a precious resource. It is used in essential applications where it adds value and benefit for society.

That is also sustainability. Because sustainability goes beyond the company gates and includes environmental, economic and societal benefits through a material’s entire life cycle. For nickel, this means the impacts of mining and production must be measured against the positive contributions of nickel-containing materials that endure for decades, that require minimal maintenance and repair, and that can be recycled again and again and again.  

Shared responsibilities

Nickel has specific intrinsic properties which determine how it interacts with the environment and human health. That comes with responsibilities, which include: 

• Responsibility to ensure that nickel remains available for future generations; 
• Responsibility to ensure that the mining and production of nickel identifies, manages and minimizes impacts on workers, communities and the surrounding environment; 
• Responsibility to ensure that nickel is recycled after use and available to satisfy future demand by contributing to a circular economy; 
• Responsibility to develop appropriate risk assessment and management tools and regulations – shared by many stakeholders, including industry, authorities, the value chain and NGOs.

Nickel Institute members take these responsibilities very seriously. Through the Nickel Institute they promote a greater understanding of the production, use and recycling of nickel and nickel compounds and how they interact with the environment and human health. As members of the Institute, nickel producers have forged a community and pooled resources to develop science and technical knowledge touching upon different life cycle aspects of nickel. This in turn provides the basis for proportionate and science-based regulation in key areas.  

Three key policy asks for newly elected lawmakers in 2024

Millions of people around the world are set to cast their votes in 2024. As newly elected representatives start their office around the globe, the Nickel Institute is urging policy makers and regulators to consider the following principles when setting environmental, industrial and sustainability policy for the years ahead:

Companies, especially newcomers to a sector, need appropriate regulatory guidance to effectively manage the potential impacts of nickel and nickel compounds on workers and the environment. 

• Regulations should be proportionate and based on risks thus enabling an appropriate level of protection

• A predictable and stable regulatory framework which allows companies to plan for long-term investments, especially for industries like nickel, where investment cycles can be more than 25 years.

Society wants sustainable products – products that last a long time and that can be recycled. It is hence important to consider not only the impacts from production but also the positive effects throughout use and end of life of a substance to ensure that its impacts on and benefits to society are taken into account

This should be done through thorough impact assessments that consider costs and benefits, as well as interaction with other policy objectives. For a material such as nickel, which is critical to the low carbon economy and future technology, policy developments on chemicals, products, industry and energy should be aligned to avoid contradictory requirements, confusion and uncertainty. 

Nickel can be mined, produced, used and recycled sustainably with respect for workers, communities, consumers and the environment.

Thanks to the members of the Nickel Institute, the nickel industry possesses a wealth of information which is available to inform regulation and ensure appropriate guidance for companies to manage nickel and nickel compounds appropriately. The Nickel Institute stands ready to support authorities and regulators with further studies and expertise. Together with our members we advocate for the responsible supply and sustainable development of nickel and the nickel industry as a future-facing sector.