The climate crisis has already brought global, very serious consequences, and the achievement of the goal of limiting the increase in global temperature to 1.5oC is called into question, which is why urgent and decisive actions are needed. In order to increase the chances of achieving the aforementioned goal, at the previous United Nations Conference on Climate Change (COP28), an agreement was reached to triple the capacity for renewable energy sources by 2030, as well as to double energy efficiency.
This transition process requires a significant increase in demand for critical minerals, which are key to the construction, production, distribution and storage of renewable energy. Thus, copper, cobalt, nickel, lithium, graphite, rare earths and aluminum are needed for electric vehicles and battery storage, while solar panels include silicon, cadmium, tellurium and selenium. Also, wind turbines require copper, and hydroelectric power plants copper, lightning, zinc and aluminum.
These resources are mainly owned by developing countries, such as Africa, Asia and Latin America, which is also a good opportunity to improve their economies. However, what is necessary is to take care of human rights, especially of indigenous peoples.
This is why the Secretary General of the United Nations established the Panel on Critical Minerals for the Energy Transition in 2024, to ensure that this transition is fair, sustainable and beneficial to all nations. The Panel’s latest report presents principles and concrete recommendations for governments, institutions and other stakeholders on key minerals at a critical time. It is about seven guiding principles and five recommendations that should be implemented to introduce fairness and justice in, as stated, the race towards net zero emissions.
- Human rights must be at the center of all mineral value chains. Exploitation of natural resources must not come at the cost of human rights.
- The integrity of the planet, the environment and biodiversity must be protected. Environmental standards and regulations are key to minimizing the harmful impact on the environment.
- Justice and equity must underpin mineral value chains, ensuring that all communities and countries benefit from resource wealth rather than being exploited.
- Development must be encouraged through fair distribution of benefits, added value and economic diversification. Resource-rich countries should use these minerals to strengthen their domestic economies, not just export them as raw materials.
- Responsible and fair investment, finance and trade are essential to ensure a sustainable economic transition and prevent injustices in value chains.
- Transparency, accountability and the fight against corruption are key to ensuring good governance and building trust in the sector.
- Multilateral and international cooperation must be the basis of global action, because only joint efforts can solve the complex challenges of the energy transition, while promoting peace and security.
In order to apply these principles in practice, the Panel presented five concrete recommendations.
- Establishing a high-level expert council that would accelerate greater cooperation and benefits across value chains, enabling fair trade and investment in critical minerals.
- Establishing a global framework for monitoring, transparency and accountability along the entire mineral value chain, from extraction to recycling, to facilitate corporate accountability and promote respect for human rights.
- Creation of the Global Mining Heritage Fund to address the problems of abandoned mines, with a special emphasis on environmental rehabilitation and remediation of contaminated areas.
- Support to small and artisanal miners, so that they become agents of change, encouraging sustainable development and environmental protection.
- Setting targets for material efficiency and circularity throughout the life cycle of critical minerals, which would promote recycling and sustainable use of resources.
Although these resources can bring very important benefits, increasing demand for them brings risks, if they are not managed properly. Risks can manifest themselves in the form of dependence on raw materials, intensification of geopolitical tensions, and can also negatively affect the environment, rights, safety and health of people. The Secretary General of the United Nations requested that the recommendations of the panel be presented to member states and relevant parties before the next COP29 in order to accelerate the transition to renewable energy sources.
Katarina Vuinac
Source: energetskiportal.rs
