International body advocates for halting competitive pursuit of essential mineral resources
The United Nations is working to inhibit a scramble for crucial raw materials critical for energy transition. These materials, as per a group of specialists chaired by UN Secretary-General António Guterres, could see a nearly threefold increase in demand by 2030. The specialists suggest ways to facilitate sustainable and eco-friendly extraction of these materials and ensure equal access for all countries.
The materials in question are vital minerals required for clean energy, such as those used in wind turbines, solar panels, electric vehicles, and battery storage. Notable examples include rare earth elements, lithium, copper, nickel, and cobalt. The specialist team emphasizes the importance of maintaining fairness, transparency, sustainability, and human rights throughout the value chain, from extraction to refining, transportation, and recycling.
At the COP28 climate conference in 2023, nations agreed to enhance renewable energy capacity threefold and double energy efficiency by 2030, reducing the reliance on harmful fossil fuels. The aim is to restrict global warming to 1.5°C above pre-industrial levels, thereby mitigating climate change's impacts.
Many critical raw materials reside in developing nations. For these countries, the energy transition could represent a chance to refine their natural resources, create jobs, and stimulate economic growth, rather than just exporting raw materials. The specialist team advises establishing a UN committee to facilitate dialogue among all stakeholders and developing global standards to trace the origin and processing of these minerals. A fund should be established to provide resources for safe mine closure, and smaller businesses should be empowered to join this sector.
The energy transition necessitates a significant increase in the use of mineral products like rare earth elements, lithium, copper, nickel, and cobalt, which are essential for clean energy technologies. It's crucial for the UN committee to establish and implement global standards to monitor the sustainable and equitable extraction and processing of these mineral products.
