The COP29 climate talks in Baku on Wednesday examined the urgent question of how to manage demand for minerals critical to the production of electric vehicles and solar panels without triggering a “rush for greed” that exploits local communities and crushes the poor.
This group was established last year at the previous UN Climate Conference, COP28 in the United Arab Emirates, with the aim of bringing together governments, international organizations, industry and civil society to develop common, voluntary principles to guide extractive industries “in the name of justice and sustainability”.
In Baku, the UN chief, who convened Wednesday’s event, said the renewable energy revolution was moving forward. Last year, for the first time, the amount invested in grids and renewable energy exceeded that devoted to fossil fuels.
Past mistakes and the rush for resources
“For developing countries rich in these resources, this is a huge opportunity: to generate prosperity, eliminate poverty and promote sustainable development. But too often this is not the case,” he warned, before adding: “Too often we see the mistakes of the past repeated in a race for greed that crushes the poor.”
Indeed, the rush for resources has led to the exploitation of local communities, the trampling of rights and the destruction of the environment. “We see developing countries reduced to the bare minimum in value chains, while others get richer thanks to their resources,” argued the UN chief.
Maximum value added in resource-rich developing countries
The group’s latest report identifies seven voluntary principles and five actionable recommendations for integrating justice and equity into critical minerals value chains.
“These principles aim to strengthen communities, create accountability, and ensure that clean energy supports equitable and resilient growth. This includes advancing efforts to ensure maximum value addition in resource-rich developing countries,” the Secretary-General explained.
The United Nations system is mobilizing to help implement the group’s findings, working with Member States and other stakeholders to establish the recommended high-level expert advisory group to accelerate action on key economic issues, including profit sharing, value addition and fair trade.
Developing countries in charge
“We will also advance the recommended global framework for traceability, transparency and accountability for the entire minerals value chain. This will encourage responsible production, while preserving human rights and the environment,” he added.
All leaders – from governments, industry and civil society – should join the United Nations and its partners in developing countries, local communities and beyond, to accomplish this task, Mr. Guterres insisted.
“As demand for minerals essential to the energy transition increases, we must act. Together, let us guide the transition towards justice and equity,” he concluded.
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