UN warns of 300% spike in mineral demand, calls for just supply chain reforms, ET EnergyWorld

New Delhi: Global demand for minerals essential for renewable energy technologies is expected to almost triple by 2030, according to a United Nations report. The UN Secretary-General’s expert panel on critical energy transition minerals has issued a set of recommendations and guiding principles for governments, industries, and stakeholders to ensure a just and sustainable approach to the energy transition.

“The report identifies ways to ground the renewables revolution in justice and equity, spurring sustainable development and protecting the environment,” UN Secretary-General António Guterres said. He added that the panel’s recommendations would be shared with Member States and stakeholders ahead of COP29 later this year.

The report, titled Resourcing the Energy Transition: Principles to Guide Critical Energy Transition Minerals Towards Equity and Justice, outlines recommendations focused on fairness, transparency, investment, sustainability, and human rights along the entire minerals value chain. This includes mining, refining, manufacturing, transportation, and recycling.

Ambassador Mxakato-Diseko, Co-Chair of the Panel, stated, “We either sink together or rise together, with human rights, justice, equity, and benefit-sharing guiding us towards shared global prosperity.”

Ditte Juul Jørgensen, Co-Chair of the Panel, emphasized that as countries work to triple global renewable capacity and double energy efficiency, demand for critical minerals will increase significantly. She highlighted the need for action on the panel’s recommendations to ensure that the energy transition creates shared benefits.

The International Energy Agency projects that mineral demand for clean energy technologies will almost triple by 2030 as countries aim to reach net-zero carbon dioxide emissions by 2050. Minerals like copper, lithium, nickel, cobalt, and rare earth elements are essential components in clean energy technologies, including wind turbines, solar panels, electric vehicles, and battery storage.

The panel’s recommendations include establishing a high-level expert advisory group within the UN to coordinate policy dialogue, creating a global framework for transparency and accountability, and supporting artisanal and small-scale miners. Other proposals include creating a fund to address legacy issues related to abandoned mines and strengthening material efficiency and recycling practices.

The report stresses the importance of developing countries with large reserves of critical minerals to use this opportunity to transform their economies, create jobs, and foster sustainable development. However, it cautions that without proper management, the increased demand for these minerals could exacerbate geopolitical tensions and create environmental and social challenges.

The UN Secretary-General reiterated the importance of the panel’s recommendations and noted that the next step would be to consult with Member States and other stakeholders ahead of COP29.

• Published On Sep 12, 2024 at 08:12 AM IST

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