At a roundtable discussion, UN Secretary-General António Guterres emphasized the importance of addressing the challenge of achieving a just energy transition. He called on participants to provide input on the work of his Panel on Critical Energy Transition Minerals, which was launched at COP28 last year with the goal of developing voluntary principles to guide extractive industries towards justice and sustainability.
In Baku, the UN chief noted that the renewable energy revolution is gaining momentum, with more investment in grids and renewables than in fossil fuels for the first time last year. However, as governments commit to tripling global renewables capacity by 2030 and phasing out fossil fuels, the demand for critical minerals needed for this transition is expected to skyrocket.
While this presents a huge opportunity for developing countries to generate prosperity and sustainable development, there is also a risk of repeating past mistakes and exploiting the poor in a “stampede of greed.” As the rush for resources often leads to the exploitation of communities, violation of rights, and damage to the environment, the UN Secretary-General stressed the importance of avoiding this and ensuring that the transition towards clean energy is just and equitable.
To address these issues, the Panel has identified seven voluntary principles and five actionable recommendations to promote justice and equity in critical mineral value chains. The UN system is working with member states and other stakeholders to implement these findings, including establishing a High-Level Expert Advisory Group to accelerate action on economic issues related to critical minerals.
The UN chief highlighted the importance of involving all leaders from government, industry, and civil society in this effort, along with indigenous peoples, local communities, young people, and trade unions. He also emphasized the need for a global framework to trace, ensure transparency, and hold accountable the entire mineral value chain to promote responsible production and safeguard human rights and the environment.
In conclusion, the UN Secretary-General called for collective action to turn the energy transition towards justice and equity, as the demand for critical minerals continues to rise.