(MENAFN) UN Secretary-General Antonio Guterres introduced a groundbreaking initiative on Friday aimed at ensuring fairness, sustainability, and human rights in the procurement and utilization of essential minerals crucial for the clean energy transition. The initiative centers around the establishment of the Panel on Critical Energy Transition Minerals, a collaborative effort involving a diverse array of governments, organizations, and UN entities. This panel is charged with the pivotal task of formulating a set of common and voluntary principles designed to uphold environmental and social standards throughout the energy transition process.
During the launch of the panel, Guterres underscored the significance of critical minerals in powering a world increasingly reliant on renewable energy sources. He emphasized the imperative of ensuring that the extraction and utilization of these minerals align with principles of sustainability and respect for human rights. The initiative, initially unveiled at the COP28 climate summit in Dubai, aims to deliver its preliminary recommendations ahead of the high-level UN General Assembly Week scheduled for September. COP28, shorthand for the 28th meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change, serves as a critical platform for advancing global climate action.
The surging demand for minerals essential to renewable energy technologies, such as lithium for high-efficiency batteries and electronics, underscores the urgency of this initiative. Projections from the UN Trade and Development body indicate a staggering increase of over 1,500 percent in demand for lithium alone. This escalating demand presents a significant opportunity for numerous developing countries, particularly in Africa, which boasts a substantial share of global reserves for several key metals essential to the energy transition.
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