Interim report |The Global Council for Responsible Transition Minerals Releases its Interim Report at COP29

The Global Council for Responsible Transition Minerals launched its first interim report on Wednesday13th November at COP29. The report's release featured an engaging session moderated by Philippe Varin, President of the International Chamber of Commerce, with participation from Izabella Teixeira, Co-Chair of the International Resource Panel, Kandeh Yumkella, former Director-General of UNIDO, and Solange Harpham, Head of the initiative’s Secretariat. The report, adopted during the 7th Edition of the Paris Peace Forum, less than six months after the Council’s creation, presents seven key recommendations.

Our recommendations in brief:

• Align and integrate climate, industrial, and mineral multilateral strategies.

• Establish a working group to draw a roadmap towards an International Agreement on the Management of Resources to ensure access and benefit-sharing.

• Create centralized mineral data repositories for improved insights and consolidate existing information on endowments, regulations, trade flows, and ESG impacts.

• Explore strategies to reduce risks and accelerate financing for responsible mining in developing countries.

• Examine opportunities for value creation in minerals-rich countries to ensure they benefit from their resources.

• Conduct comparative analyses between minerals supply chains and other commodities to identify transferable best practices.

• Conduct a forward-looking study to examine potential scenarios arising from insufficient mineral supply.

Adoption of the recommendations, 10 November 2024, Paris

Launching of the recommendations at COP29, 13 November 2024, Baku