The demand for critical minerals is set to almost triple by 2030 as the world transitions from fossil fuels to renewable energy in order to reduce global carbon dioxide emissions to net zero by 2050. Without proper management, the increasing demand for critical minerals risks perpetuating commodity dependence, exacerbating geopolitical tensions and environmental and social challenges, including impacts on livelihoods, the environment, health, human security and human rights, and can undermine efforts towards the energy transition.
The Panel on Critical Energy Transition Minerals was established and tasked by United Nations Secretary-General António Guterres to develop a set of “global and common voluntary principles on issues which are key to building trust between governments, communities and industry, enhancing transparency and investment, and ensuring just and equitable management of sustainable, responsible and reliable value chains for terrestrial critical energy transition minerals.”
The panel’s report – Resourcing the energy transition: principles to guide critical energy transition minerals towards equity and justice – identifies ways to ground the renewables revolution in justice and equity, so that it spurs sustainable development, respects people, protects the environment, and powers prosperity in resource-rich developing countries. The report puts forward recommendations for fairness, transparency, investment, sustainability and human rights, not just where minerals are mined, but along the entire minerals value chain, from refining and manufacturing, to transport and end-of-use recycling.
The Secretary-General calls this report "a how-to guide to help generate prosperity and equality alongside clean power." It outlines seven Guiding Principles and five Actionable Recommendations to ground the renewables revolution in justice and equity, so that it spurs sustainable development, respects people, protects the environment, and powers prosperity in resource-rich developing countries.
