The initiative has many buzz phrases such as building a "just and inclusive" clean-energy economy. The plan vilifies fossil fuels and glorifies "green energy" with sweeping statements asking "stakeholders to improve their ESG performance."

But most of us are confused by what this all means.

The transition to net zero is moving forward quickly, even though critics believe it's draconian with respect to its scope and consequences.

Silver, along with many other metals, is a critical piece of this transition, so let's discuss demand versus supply.

According to the World Silver Survey 2023 by the Silver Institute, the silver market has been in deficit for the past two years. The deficit in 2022 was 237.7 million ounces, and the 2023 deficit is forecast to be 142.1 million ounces.

The deficit is driven by various factors, including the growth of the solar and wind energy industries, which use silver in their components.

Next, silver is increasingly used in electronics, such as smartphones, laptops, and medical equipment (one of the fastest-growing sectors as life expectancy increases).

Lastly, on the monetary side, silver is growing in popularity as a hedge against systemic risk, inflation, and de-dollarization among nations pushing back against U.S. dollar hegemony.