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In 2024, the Global Council for Responsible Transition Minerals celebrates a year marked by progress and collaboration. Some of our key achievements in 2024 include: The first meeting of the Global Council for Responsible Transition Minerals took place in Morrocco in June 2024, gathering 10 high-level members from both the global North and the global South to advance discussions on transition minerals. This first meeting marked the beginning of a series of thought-provoking discussions and debates, virtually and in person. Our Special Advisor team of nearly 30 experts gathered for the first time in August 2024 to provide crucial insights into the work of the Global Council. After 6 months, the Global Council for Responsible Transition Minerals launched its interim report on the sidelines of COP29, featuring seven key recommendations. The Global Council launched communication channels to share updates and grow our community: our Website  and LinkedIn page . Two successful panel discussions and two thematic events were organized during the 7th edition of the Paris Peace Forum, diving into key themes related to the extraction of minerals for the energy transition: human rights, technological innovation, value creation, conflict dynamics, and artisanal and small-scale mining (check out the summary here ). Meetings with inspiring individuals such as the Co-chair of the UN Panel at the 2024 UN General Assembly or during our Paris Peace Forum VIP dinner discussion. And many other activities, such as a podcast, participation in international forums and discussions with our growing community of friends and colleagues. The Secretariat of the Global Council for Responsible Transition Minerals sincerely thanks all those who supported our work in 2024, with special appreciation to our remarkable Global Council members and our dedicated team of Special Advisors.

In 2024, unmistakable progress was made in placing transition minerals at the forefront of international disc ussions. Key milestones included the release of the UN Secretary-General’s Panel report , th e Global Council for Responsible Transition Minerals unveiling seven pivotal recommendations for better global governance, and a range of initiatives which raised awareness of the challenges tied to transition minerals. The Paris Peace Forum’s Global Council for Responsible Transition Minerals  is committed to addressing the fragmented efforts surrounding transition minerals. To this end, this article provides a short list of key resources published in 2024, to help navigate the complexities of the evolving landscape and capture critical evolutions. These reports offer insights into key challenges, opportunities, best practices, and policy recommendations. Global Critical Minerals Outlook 2024, International Energy Agency (IEA)  (May 2024). This report provides an outlook for demand and supply for key energy transition minerals including copper, lithium, nickel, cobalt, graphite and rare earth elements. The report also assesses key risks to the reliability, sustainability and diversity of critical mineral supply chains and analyses the consequences for policy and industry stakeholders. It is accompanied by an updated version of the  Critical Minerals Data Explorer , an interactive online tool that allows users to explore the latest IEA projections. Transition Minerals Tracker: 2024 Analysis, Business & Human Rights Resource Center  (May 2024). The report spotlights the human rights challenges and harm of irresponsible transition mineral mining – and the associated risk of derailing the pace of the transition. The tracker includes 630 allegations of abuse from 2010-2023 associated with the mining of seven key minerals for the energy transition: bauxite, cobalt, copper, lithium, manganese, nickel and zinc. Resourcing the Energy Transition, Principles to Guide Critical Energy Transition Minerals Towards Equity and Justice, UN Secretary-General’s Panel on Critical Energy Transition Minerals  (September 2024). The report, building on existing standards and initiatives, develops a set of common and voluntary principles to guide the transition. It provides seven principles, including protecting human rights, safeguarding the planet, its environment and biodiversity, promoting justice and equity, benefit-sharing, responsible investment, finance and trade, transparency and accountability, and international cooperation. To embed and maintain these Guiding Principles across critical energy transition mineral value chains, the Panel also recommends five actionable recommendations. Securing Minerals for the Energy Transition: Unlocking the Value Chain through Policy, Investment and Innovation, World Economic Forum   (September 2024).  This paper explores various approaches for unlocking critical minerals supply. It identifies barriers to investment and innovation in critical minerals and associated solutions for addressing them. It also highlights the need for global multistakeholder collaboration across the value chain and wider ecosystem to lower barriers and enable solutions. The future of European competitiveness, Mario Draghi  (September 2024). The report looks at the challenges faced by the industry and companies in the Single Market. The findings of the report will contribute to the Commission’s work on a new plan for Europe’s sustainable prosperity and competitiveness. A significant portion of the report is dedicated to addressing critical raw materials. The report underscores the increasing demand for these minerals in the EU driven by the green and digital transitions, with demand expected to rise to 300% by 2030. The report calls for substantial investments to secure the supply of minerals in Europe, both “at home and in resource-rich countries” to ensure EU’s independence. Landscape Report:  The Role of Investors in Realising an Environmentally and Socially Responsible Mining Industry, Mining 2030 (October 2024). This report maps the current and projected future of the mining landscape, including the challenges, opportunities, and impacts of mining activities. The aim is to inform the development of the Commission’s strategic objectives and priority actions. It looks at why, and how, mining is changing in response to market demand and stakeholder influences. It analyses the impacts of those changes, and pinpoints six strategic objectives to steer institutional investors towards the Commission’s vision for a more socially and environmentally responsible mining sector by 2030. Critical transitions. Working Paper October 2024 Circularity, equity, and responsibility in the quest for energy transition minerals, United Nations Environment Programme   (October 2024) . This paper outlines a vision for a future where more efficient, circular and responsible use of energy transition minerals equips the green transition, while concurrently meeting climate, biodiversity and pollution goals. Global Council for Responsible Transition Minerals interim report, Paris Peace Forum (November 2024). This report aims to move beyond fragmented approaches and foster a more integrated, collaborative dialogue, encouraging a shift from isolated perspectives to a cohesive global narrative. To advance this vision, the Global Council advocates for strengthened global governance tools, including an international agreement on resource management, a central data repository, and a public-private financing mechanism. To ground political discussions in well-substantiated, factual insights, the Council also calls for expanded research into value creation within mineral-producing nations and an in-depth analysis of narratives that conflate oil and mineral dependencies. Finally, to equip stakeholders for a range of future scenarios, the Council proposes a study to explore strategic pathways under diverse global conditions. Recycling of Critical Minerals, IEA (November 2024).  This report aims to evaluate the current status of recycling of minerals critical to the energy transition, analyses the prospects for secondary supply under different scenarios, and outlines targeted policy recommendations to accelerate the uptake of recycling that can pave the way for more sustainable and secure future mineral supply chains. The report shows that while recycling does not eliminate the need for mining investment, it creates a valuable secondary supply source that reduces reliance on new mines and enhances supply security for countries importing minerals. Moreover, it mitigates the environmental and social impacts related to mining and refining while preventing waste from end-use technologies ending up in landfills. Have a report to share? Should you wish your report to be included in our snapshot of 2024 publications, feel free to contact us via LinkedIn .

Connie Hedegaard is former EU Commissioner for Climate Action; Jason Bordoff is former White House Director for Energy and Climate Change and Director and Founder of the Center on Global Energy Policy at Columbia University; Ma Jun is Director of the Chinese Institute of Public and Environmental Affairs; Izabella Teixeira is Co-Chair of the International Resource Panel and former Minister of the Environment in Brazil; Juan Carlos Jobet is former Minister of Mines in Chile; Bogolo Kenewendo is former Minister of Investment, Trade and Industry in Botswana; Kandeh Yumkella is former Special Representative of the UN Secretary-General for Sustainable Energy for All; Bruno Oberle is former Director of the International Union for Conservation of Nature; Sheila Khama is Non-Executive Director, Base Resources and The Metals Company. As the world races toward a future powered by renewable energy, critical minerals have never been so sought-after. These essential components — including copper, cobalt, lithium and rare earth elements — form the backbone of technologies driving the green revolution. But geopolitics and a divided world get in the way: while the potential lack of minerals threatens our collective capacity to achieve that energy transition, we face export restrictions, competing initiatives excluding one another, divergent regulatory standards and investments that are scattered at best, absent at worst. We know that no country can go it alone and that climate change can only be tackled globally, but there is a continued lack of collective will to solve these challenges.  Why ask for more global collaboration towards more action, more norms, and more oversight? Some might argue that the free market will resolve these issues – let the “invisible hand” of Adam Smith do its job: demand will increase, prices will rise, and supply will adjust. And yet textbook market failures abound: unaccounted negative externalities, far from perfect competition in some markets, information asymmetry leaving it in the hands of opaque traders and high transaction costs. The cloud of reputational risk hanging around the mining industry certainly doesn’t help. Beyond the economic costs, feeble returns and uncertainties that already make risk-averse investors recoil, there is the historical legacy of such mines: cases of soil pollution, human rights abuse and water stress all make the necessary social license to operate precariously. And what about at the end of the mining cycle? What about closure and rehabilitation? How does the market work to cover those costs? 80,000 inactive and unused mine sites across Australia, around 82% potentially requiring rehabilitation. That could await us in the future on a global scale without purposeful and coordinated global action. Fragmenting global supply chains, financing mining projects without addressing negative externalities, and trading minerals on opaque markets are inefficient and costly approaches for all stakeholders. There is a need to find consensus, reconcile diverging voices and interests, and nudge the world towards our collective goal: a sufficient supply of responsible minerals to achieve the energy transition at the global level. Doing this will require strengthened international collaboration on five aspects:  Despite their crucial role in our future, no international agreement, agency, platform, or fund is solely dedicated to transition minerals. Addressing these challenges will mean creating new frameworks and tools.  There is a dire need for increased investment, whether through public-private partnerships, international funds, or other instruments to assuage risk-averse actors and secure requisite funds for projects along the supply chain. It has been estimated that US$1.7 trillion over the next 15 years in mining investment will be needed to achieve the energy transition, and we are far from reaching that target.  The participation of developing resource-rich countries in this work is crucial. We need to find ways to assist them in transforming their mineral resource wealth into economic development. Value-added wealth creation cannot be isolated; it requires essential conditions such as infrastructure, rule of law, transparency, and skilled workers. Capacity-building practices and incentives will be vital in establishing these pre-existing conditions. The market for minerals will grow, and more transparency, regulation, and oversight will be needed to build trust and develop existing derivatives markets.  Finally, global cooperation should be enhanced on environmental and social sustainability issues. This may involve harmonising existing standards, ensuring the economic viability of green minerals, or developing a global framework for circularity. The energy transition must not come at the expense of biodiversity and social conflict. We all recognize the immense challenges surrounding critical minerals and the energy transition. These issues demand urgent and concerted action, echoing across continents and sectors. In response, we launched the Global Council for Responsible Transition Minerals on June 10th, in Ben Guerir, Morrocco, a multi-continental, high-level, and independent body. This Council is not just another committee. It represents a diverse and autonomous coalition of leaders from governments, civil society, and the private sector, united by a common mission: to forge a more sustainable and cooperative future. The Council aims to break down silos and foster genuine collaboration by identifying shared interests, shaping the conversation with insightful policy recommendations, and leveraging the collective expertise and influence of its members. Find also this op-ed on: Euractiv Le Journal du Dimanche (français)

The likelihood of global warming overshooting the 1.5°C target set by the Paris Agreement is alarming and continues to rise. As the race for renewable energy intensifies, the extraction of transition minerals—such as lithium, cobalt, and nickel—has become a central issue. How can we accelerate this transition while ensuring the sustainable extraction of these essential resources for green technologies, without worsening ecological crises? Our experts will examine strategies to balance climate goals with the economic and geopolitical realities of the energy transition, aiming to propose concrete solutions for a more sustainable future. This podcast features: Nicolas Leconte , Former Policy Advisor on Critical Raw Materials at the Ministry for Europe and Foreign Affairs Solange Harpham , Head of the Environment and Transition Minerals Program, Paris Peace Forum Evan O’Connell , Director of Communications, Paris Peace Forum To listen to the podcast:

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

During the 7th edition of the Paris Peace Forum, Heads of State, high-level representatives from civil society, governments, the private sector and multilateral organizations  gathered at Palais Chaillot under the theme "Wanted: A Functioning Global Order"  to underscore the urgent need for effective international governance. Among the many thought-provoking discussions, a number of events   convened a diversity of actors on the subject of global governance of  transition minerals. These discussions spanned topics such as the role of producer countries in current geopolitical dynamics and the delicate balance between technological innovation and the protection of human rights. Notably, two sessions exploring the intersections of conflict and minerals were co-organized in partnership with Global Witness and the OECD. Morning Session Highlights – November 11: “Responsible Mining for the Energy Transition – Balancing Human Rights and Technological Innovation” In the morning of the 11 November, a high-level panel featured two members of the Global Council for Responsible Transition Minerals )   Ma Jun  (Founding Director, Institute of Public and Environmental Affairs (IPE))  and  Sheila Khama  (Non-Executive Director, FTSE and NASDAQ) , as well as  Rob McEwen  (Chairman and Chief Owner, McEwen Mining) and Sam Dick  (Co-Director of Campaigns, Global Witness).   Djaheezah Subratty  (Programme Management Officer, United Nations Environment Programme (UNEP)) moderated the session. Panelists explored ways   to safeguard the rights of local communities, workers, and indigenous peoples while leveraging technologies that enhance efficiency and minimize social and environmental impacts. Key insights from the discussion included: The transformative potential of technological innovation in shaping a more responsible mining sector , by contributing to reducing environmental footprints, minimizing ecological damage, improving workers safety, and increasing corporate accountability. The essential role of transparency and availability of data in supporting the human rights  of local communities, indigenous peoples and workers. As key to a responsible transition minerals value chains, the Global Council for Responsible Transition Minerals has made transparency one of its key recommendations , calling for centralized data repositories, including for ESG data, regulations, trade flows and endowments. The critical importance of transition minerals in ensuring access to reliable and affordable energy , in line with the sustainable development goals (SDGs) of the 2030 Agenda. The necessity of fostering global collaboration and dialogue between different stakeholders , including communities, indigenous peoples, civil society, governments, and the private sector. Afternoon Session Highlights – November 11: “Geopolitics, Commercial Rivalries, and the Impact on Benefit Sharing in Mineral-Producing Countries” In the afternoon, another distinguished panel convened Christof Kurz  (Chief of Party, Madini Kwa Amani Na Maendeleo project, International Alert) ,  Bruno Oberle  (President, World Resource Forum Association (WRF) & Co-Chair of the Global Council for Responsible Transition Minerals) ,  Louis Maréchal  (Senior Advisor, Minerals and Extractives, OECD) ,  Maha Aziz  (Professor, New York University) ,  Emily Iona Stewart​​​​  (Head of policy and EU relations, Transition Minerals, Global Witness)  and  Joel Flores Carpio  (Chief Executive Officer, Strategis Global Advisors) . Markus Herrmann  (Co-Founder and Managing Director, China Macro Group / Correspondent, Caixin)  moderated the session. Panelists delved into the geopolitics of resource access, from strategic partnerships to trade restrictions, and the ways in which these influence the ability of mineral-rich nations to leverage their resources for sustainable development and local value creation. Key takeaways from this session included: The need for an international agreement to ensure fair benefit-sharing of minerals resources , one of the 7 recommendations outlined in the interim report of the Global Council for Responsible Transition Minerals. The essential nature of robust industrial policies for mineral-producer countries  to effectively guide minerals production and management. The role of critical minerals in today's geopolitical landscape, with minerals essential to the digital and energy transitions at the center of major geopolitical shifts, including the declining US leadership, rising powers, increasing resource nationalism, and the quest for equitable, sustainable practices. The pivotal role of investors in driving local value creation  for local communities and environmental sustainability, for example, through initiatives promoting technological and knowledge transfer and the need to rethink value addition for local communities beyond strict monetary terms. The urgent need for better  Artisanal and Small-Scale (ASM) mining governance , characterized by low payments, reinforced environmental degradation, and exploitative practices. November 12 – “Conflict at the Front Lines of Transition Minerals” On the 12 November, discussions were pursued on transition minerals at the OECD Conference Center with two events on Conflict Dynamics in Mining Regions. The sessions were opened by Fabienne Hara (Deputy Director General, Paris Peace Forum). The event “Conflict at the Front Lines of Transition Minerals”  features Emily Iona Stewart (Head of Policy and EU relations, Transition Minerals, Global Witness), Emmanuel Umpula (Afrewatch) and Yblin Roman (SIRGE Coalition). Benjamin Katz (OECD) moderated. In this session, Global Witness and frontline voices presented a new report on the links between violence, social unrest and mining for transition minerals . Panelists highlighted: The ongoing large-scale geopolitical race to secure transition minerals and the necessity of ensuring that this transition does not come at the expense of local communities . Investigations highlighting the link between mineral activities and incidents such as protests, violence, and deaths . The need to respect the rights of frontline communities and Indigenous Peoples, including the requirement to uphold their Free, Prior, and Informed Consent (FPIC)  and to conduct thorough environmental impact assessments. The critical importance of strengthening global governance around transition minerals , as emphasized by the Global Council for Responsible Transition Minerals in its recently released interim report . November 12 – “ Conflict transformation and the role of responsible artisanal and small-scale mining ” The second event, co-organized by the OECD, UN Department of Peace Operations and the Paris Peace Forum titled “ Conflict transformation and the role of responsible artisanal and small-scale mining ” featured Thomas Kontogeorgos  (Chief, DDR Section, Office of Rule of Law and Security Institutions (OROLSI), Department of Peace Operations (DPO)), Louis Maréchal (Senior Advisor, Minerals and Extractives, Centre for Responsible Business Conduct, OECD ), Ruben de Koning  (Consultant, HIVE), Eleonora-Markella Mantika  (Policy and Planning Officer, Great Lakes and Haiti Team, DDR Section, OROLSI, DPO), Mr. Jeff Kabatunanga Kajima   (National Coordinator, Disarmament, Demobilization, Community Recovery and Stabilization Program (P-DDRCS)), Yannick Weyns  (Senior Natural Resources Advisor, MONUSCO) , Christof Kunz  (Chief of Party, Madini project, International Alert). Panelists presented their recently-launched report, which explores the feasibility of operationalizing the linkages between responsible mining practices through due diligence  in global supply chains and disarmament, demobilization and reintegration (DDR) of ex-combatants  from armed groups in eastern Democratic Republic of the Congo as well as related community violence reduction (CVR) programming.  Insights from the discussions included: The potential of Artisanal and Small-Scale Mining (ASM) to generate an income for former combatants while strengthening their reintegration . The factors that may contribute to a successful reintegration of ex-combattants , including including social, economic, security and psychological factors. The lack of consideration from multilateral donors to include mining in their reintegration programs .   No recording is available.

On September 11th, the UN Panel for Critical Energy Transition Minerals released its report, “Resourcing the Energy Transition: Principles to Guide Critical Energy Transition Minerals Towards Equity and Justice,”  following only a few months of work. The panel had held its first official meeting on May 22nd and conducted an impressive number of consultative meetings and stakeholder dialogues in a short span of time.   There is a broad consensus that the report's publication was timely, providing much-needed guidelines from the UN on issues like human rights, equity, responsibility, Indigenous rights, and environmental protection.  It is perceived as a significant victory for civil society, raising awareness about mineral-related issues and engaging civil society organizations more deeply.     The UN Secretary General officially endorsed the report and highlighted its significance during his address at the UN General Assembly.  He extended the UN Panel’s mandate by two months beyond its scheduled dissolution, which was to occur upon the report’s publication. To ensure the report's recommendations lead to concrete action, each recommendation will be assigned to a specific UN agency for implementation . A high-profile event centered around the report is being planned for COP29, during the leaders’ summit, to raise the report’s visibility and secure broad support from member states for a UN mandate to follow up on its findings, including securing necessary financing. The panel’s future after COP29 remains undecided, with further developments expected in the coming months.   The UN Panel and the Global Council for Responsible Transition Minerals share a common starting point:  identifying normative gaps in global governance within the international supply chains of minerals critical to the energy transition. Both initiatives focus on some similar themes, such as beneficiation and sustainability in mineral value chains. However, their approaches and composition differ significantly. The UN Panel is primarily an intergovernmental initiative, involving 25 State actors (including the European Union and the African Union), 8 international organizations, 4 actors from civil society and 2 from the private sector. Its institutional legitimacy and credibility are bolstered by the extensive resources at its disposal. In contrast, the Global Council functions as an independent, multistakeholder initiative, free from direct State involvement. This independence allows it the flexibility to assess the rapidly changing and fragmented landscape, while its diverse composition enables it to tackle key issues central to civil society and private sector concerns beyond national interests.    The complementary nature of these initiatives and the importance of collaborating were both recognized during the inaugural meeting of the Global Council for Responsible Transition Minerals,  which was attended by Ditte Juul-Joergensen, Co-Chair of the UN Panel. To prevent duplication, the Global Council decided to postpone issuing its own recommendations until after the release of the UN report. Representatives of both groups met on the sidelines of UNGA on September 23rd to discuss how the Global Council can complement the UN's work. This meeting was significant for both raising the Council's visibility and facilitating information sharing. It was agreed that the initiatives would remain in contact, while the Council continues developing its own recommendations with input from its multistakeholder group of Special Advisors.  The aim is to challenge misconceptions and explore innovative ideas, placing expert voices above political considerations. A first set of  recommendations will be drafted for the Council for review on November 10th, with plans for an official launch at COP29.

Increasing demand for transition minerals is perceived by many resource-rich countries as a new opportunity to boost revenue and advance towards industrialization. While these resources present substantial economic opportunities, countries often remain limited to raw material extraction due to infrastructure, investment, and governance challenges and/or market dynamics which do not support the emergence of new or localized clusters of operations. Efforts to move down the value chain through processing localization mandates and/or export bans, as seen in Zimbabwe's lithium policies, have had mixed results, mostly leading to inefficiencies and reduced production. Examples like Indonesia’s nickel sector must also be considered carefully, balancing socio-economic benefits with environmental impacts. Nationalization efforts, such as Chile's new lithium strategy, also illustrate the difficulty of driving sustainable and positive outcomes from such policies. International partnerships, North-South collaborations, and regional integration efforts also aim to enhance processing capabilities and increase industrialization. However, these endeavors face significant hurdles, including weak institutions, political instability, and the need for substantial investment and capacity building. Robust regulatory frameworks, capacity building, and regional cooperation to harness the full potential of mineral resources while ensuring sustainable development and equitable benefits for local communities are crucial. Authored by Solange Harpham, edited by Ludivine Wouters.

Mineral markets present unique challenges due to their size, lack of transparency, and complex trade practices. Despite growing demand, the market for transition minerals remains relatively small and fragmented, with limited liquidity and transparency. Market concentration among a few key players exacerbates vulnerabilities to geopolitical shocks and export restrictions. To address these cha lenges, this paper suggests enhancing transparency through international cooperation, regulating mid-stream commodity trading, and revitalizing international trade governance amidst dispute settlement challenges. Authored by Solange Harpham and Brenda Yeong, edited by Ludivine Wouters.

Despite numerous United Nations agencies and international organizations, including UNEP, UNCTAD, UNDP, UNIDO, IGF, OECD, IEA, and IRENA, working to address the various cha lenges related to the supply of transition minerals critical for the energy transition, the fragmentation of efforts has led to significant cha lenges such as a lack of coordination and information exchange and inadequate capacity. Potential solutions include integrating minerals into the Sustainable Development Goals, establishing a new global framework like the "Sustainable Development Licence to Operate" proposed by the International Resource Panel, and creating a dedicated international agency for minerals. Authored by Solange Harpham, edited by Ludivine Wouters.

On June 10th, members of the Global Council for Responsible Transition Minerals gathered for the first time on the sidelines of the Paris Peace Forum Spring Meeting in Ben Guerir, Morocco. The in-person reunion was chaired by Co-Chairs Bruno Oberle, former Director General of the IUCN, and Kandeh Yumkella, former Director General of UNIDO. Other notable members in person included Sheila Khama, former CEO of De Beers, Ma Jun, founder and Director General of the Institute of Environmental & Public Affairs in China, and Izabella Teixeira, Co-Chair of the International Resource Panel (IRP). Additional members participated online, such as Jason Bordoff, Founder and Director of the Center on Global Energy Policy at Columbia University, Connie Hedegaard, former EU Commissioner for Climate Action, Juan Carlos Jobet, former Minister of Mines in Chile, and Bogolo Kenewendo, former Minister of Industry and Trade in Botswana. The Council members recognized the critical role of transition minerals in achieving global climate and renewable energy targets. The members agreed that global rivalry and fragmentation impede collective efforts towards the energy transition. Their aim is to leverage their experience and influence to advocate for a global collaborative approach to address the challenges related to transition minerals. In this spirit, the Council invited Ditte Juul-Joergensen, Co-Chair of the UN Panel on Critical Energy Transition Minerals, to present the panel’s ongoing work. After a thorough discussion, the Council agreed to maintain regular communication with the UN Panel and to defer making formal recommendations until after the UN General Assembly in September, when the panel is expected to publish its recommendations, to avoid overlapping initiatives. During this interim period, members will focus on gathering knowledge and exploring the workstreams proposed by the Paris Peace Forum Secretariat. As a first step, the Council discussed two key workstreams: “Addressing the fragmentation of multilateral approaches to transition minerals” and “Reshaping mineral markets for global trade.”. Their next meetings will be held virtually in mid-July and beginning of October.

Mining finance is driven by specialist capital concentrated in a small number of financial centers and has shrunk dramatically over the last decade in Western markets. Attracting non-specialist finance to mining is proving extremely difficult due to the sector’s challenges including commodity pricing cyclicality and volatility, operations’ long lead times and increasing costs, ESG risks and their reputational impacts, and geopolitical uncertainty exacerbating concentration risks. Considering the limited mining finance pools available in Western markets and strategic focus on industrial and defense stakes, government intervention, previously a hallmark of China’s positioning on critical minerals domestically and abroad, is on the rise. Responsibility is a key pillar of critical mineral strategies, aligning with societal expectations of responsible business conduct across borders and value chain levels, and with fair transition principles: ESG criteria should be viewed as a bolster to responsible investment and improving governance. Unlocking responsible financing for mining will require actioning international collaboration tools, amplifying public-private initiatives and better communication of minerals’ critical role in addressing global sustainability stakes. Authored by Solange Harpham and Brenda Yeong, edited by Ludivine Wouters