Session 4: Harnessing benefits from critical energy transition minerals

The energy transition is gaining momentum and demand for key minerals used in clean energy technologies is expected to increase rapidly. As the world rushes to exploit these minerals, UN Secretary General Antonio Guterres cautions against repeating past mistakes, where developing countries were systematically exploited and reduced to providing raw materials, with value being created elsewhere.

To promote a more equitable and sustainable approach, the Secretary General launched the Panel on Critical Energy Transition Minerals to develop a set of global, common, yet voluntary principles for a more sustainable and equitable management of the value chain for these minerals. These principles aim to contribute to ensuring that the energy transition is just, fair, and sustainable.

This session will underscore the growing importance of critical minerals to the global economy, driven by the accelerating energy transition. It will highlight the opportunities and challenges faced by various stakeholders, including CETM-producing countries, industry players throughout the value chain, and policymakers.

The session will focus on value addition, recycling, and job creation, aiming to foster discussions on strategies to maximize the benefits of these minerals while mitigating associated risks. In this context, panelists and participants at the GCF will examine how developing countries can harness their CETMs for a sustainable development path.
 

Questions to be addressed:

• How can CETM-producing countries seize the opportunities (value addition, diversification, local content etc) presented by the surge in demand for CETMs to propel their sustainable development? 
   
• What safeguards are necessary to mitigate the environmental and social risks associated with CETM extraction and processing and downstream industries, including recycling? 
   
• How can the massive investments needed to expand the supply of CETMs mining and value chains be financed? 
   
• How can international cooperation be enhanced to ensure that developing countries harness the benefits from this increase in demand for CETMs?