10084315Creating a low carbon, environmentally sustainable and socially just value chain for rare earth magnetsClosedFeasibility StudiesInnovate UKNdFeB magnets drive low-carbon futures. Their unique high performance properties outclass alternatives, including SmCo magnets. Securing sustainable rare earth (RE) sources for NdFeB magnets is vital to meet global sustainability and climate goals. However, global RE value chains are associated with poor environment, social and governance (ESG) performance. This increases risks and undermines sustainability aims, whilst adversely impacting new generations of RE mines and refineries being created by UK companies such as Pensana. This project supports innovative business model creation, incorporating low-carbon, environmentally sustainable and socially just approaches to ensure a resilient and sustainable supply chain for NdFeB magnets. Limitations in data cause RE lifecycle assessments (LCA) to run only as mine-to-magnet, ignoring the impacts of the use, end of life and circular economy phases. Moreover, gross estimations are forced, to fill data gaps, creating impact assessment difficulties and challenges for improving ESG performance, whilst undermining supply chain resilience. This project has two aspects. 1.A novel and unique assessment of environmental and social impacts across the entire NdFeB value chain, surpassing traditional LCA analysis by identifying individual impact measures, and considering both positive and negative impacts and how they interface with each other. 2.Combining industrial and academic expertise to identify potential material interventions, thereby maximising environmental sustainability and adding social value across the entire value chain. The project uses Route2's innovative V2S platform to assess impacts across six major capital categories in sustainable global value chains; from Pensana's mine in Angola to the global centre for RE processing in Hull, to Polestar's downstream use and end-of-life phases. Route2's model uses an integrated reporting focus, allowing for both positive and negative impact assessment. The unique partnership delivering this project brings an innovative skill set and approach to this project. Pensana, already a leader in the RE ESG space, provide up-stream and mid-stream expertise, Polestar, through their innovative Polestar0 carbon-neutral car design and Route2 with their in depth Value2Society impact modelling platform provide the corporate input. Academic expertise is provided by experienced and specialist teams from the Universities of Hull and Leeds. UoH's expertise in industrial environmental sustainability and UoL's through experience in evaluating and addressing social impacts throughout the extractive lifecycle. Pensana provides a real-world value chain against which this project explores innovative business model creation to ensure a sustainable and resilient RE supply chain.