The present business-as-usual cobalt use in society is not sustainable. Too much cobalt is lost if only market mechanisms are expected to improve recycling, and unnecessary cobalt is wasted if no policy actions are taken. Increased recycling and better conservation will be able to improve the supply situation, but this will need active policy participation beyond what market mechanisms can do alone. To conserve cobalt for coming generations, present policies must be changed within the next few decades. The sooner policies change, the better for future generations.