Natural Resource Governance Institute’s Post

Latest update on the UN Panel on Critical Energy Transition Minerals! #Justice and #Equity!

The UN Secretary-General's Panel on Critical Energy Transition Minerals (https://lnkd.in/emcYNV9J) released its report today -- see Natural Resource Governance Institute's reax & next steps below. #JustTransition

The world committed to transition away from fossil fuels at Cop 28 to abate a climate crisis. The transition will require investment in financing and extraction of critical minerals necessary for battery, solar panel and wind turbine manufacturing. The extraction of critical minerals can potentially give rise to environmental and social impacts locally and globally. How do we finance the transition? How do we ensure a just energy transition?and more importantly as Africans, how do we position ourselves to extract benefits from critical minerals on the continent without breaching our WTO commitments?Join us at the Climate & Nature Finance Day at Radisson blu Hotel Nairobi on the sidelines of the African Development Bank Annual meetings.@ Hon Winston Chitando@Hon Edgar Moyo@ Virginia ,Wangari Muchiri Kimani Jack Dr. Olufunso Somorin @Dr Evans Osano,&Dr Mahmoud Mohieldin@kwabena Boamah, Sandy O. Okoth .# Climate Finance,#Critical Minerals

If you haven't already noticed, there's a step up occurring in the media and a belated return to stories on climate change. With COP28 almost upon us, the Australian Government is increasing its climate related announcements and initiatives with Minister Bowen on Insiders yesterday. There's no bigger economic challenge than tackling climate change as this is much more long term and transformational than inflation. Yet change is always hard, and in times of economic insecurity it can be harder to motivate others to support the big changes we require. That is why I’m proud to support ASFI as they drive leadership in the finance sector for sustainability including (but not limited to) responding to climate change. If we're not seeing leaders in every sector stand up and drive ambition today, we won't enjoy the consequences of that lack of action in the years to come. Yet how do you stand up and be a leader and still take people (staff, customers, all your stakeholders) with you? It's something I think about every day. And it takes the full toolkit to suceed. Purpose, values, strategy, policy and program content, alignment, partnerships and, of course, quality, targeted and savy communication. If you're in finance or looking to see what business is up to on climate change check out their website and attend this webinar.

On September 11, a UN-convened panel released key recommendations to guide governments and industry in ensuring that the global energy transition, driven by the demand for critical minerals, is pursued with equity, justice, and sustainability. The recommendations aim to support fair value chains for essential minerals like copper, lithium, and cobalt, which are vital for clean energy technologies. Key Points: - The report emphasizes fairness and justice across mineral value chains to foster sustainable development and respect human rights. - It proposes a global framework for transparency, accountability, and traceability to ensure responsible mining and mineral use. - Developing countries with large mineral reserves are encouraged to seize the opportunity to create green jobs and diversify their economies. The UN Secretary-General called for these principles to be discussed with member states ahead of COP29. Follow Global Regulatory Insights for more updates on global energy and sustainability policies now! #EnergyTransition #Sustainability #CleanEnergy #RenewableEnergy #CriticalMinerals #UN #ClimateAction #GRI #COP29

"Misalignments between mineral inventories, production readiness, and policy actions" will likely lead to delays in the supply of much-needed metals and minerals, according to this article in Nature (https://lnkd.in/dZCitFzH). - In addition to market forces, the relationship between national resource inventories and the state system of natural resource governance is the primary determinant with respect to the scale and speed of mineral extraction. - The IEA estimates an average lead time of 16.5 years to move mining projects from discovery to production. #mining #governance #policy

A just transition must address the needs of workers and surrounding communities affected directly or indirectly by the shift away from coal; provide #cleanenergy access to millions of people; protect vulnerable customers from unaffordable energy prices; and create a shared vision for the country’s #energy transition pathway. The World Bank Treasury (IBRD • IDA)‘s Sustainable Finance and ESG Advisory Program and the Energy and Extractives Global Unit have developed a #taxonomy of activities that will make it easier for investors and other stakeholders to identify which activities are aligned with globally-accepted principles and support better-informed decision-making and response to investment opportunities. Demetrios Papathanasiou

#cop28 is about to start. With the warmest year on record almost over, is there an integrated plan that takes us from where we are going to where we need to be? If this plan exists, where are we on delivery? 1. Where are we on delivering financing? Are we moving enough capital at scale? Are we targeting capital effectively? Climate financing is growing, over $100B from developed countries in 2022, but we need more #climatefinancing 2. Where are we on loss and damage funds? Devil’s in the details and the details haven’t been sorted through yet. #lossanddamage 3. Do we know where we are going - what are we transitioning to? Are we on-track to develop technologies? Do we understand tradeoffs between competing clean energy solutions? #cleanenergy #energytransition #netzero 4. Where are we on carbon credits? For this to be an effective mechanism for catalyzing progress, clear definitions and controls are essential. Approaches influenced by McKknsey that are basically neocolonial land grabs that extract $ from African countries as vast swaths of land are bought obviously aren’t the right answer. #carboncredits 5. How do we exit from fossil fuels? We still haven’t had a serious conversation about stranded assets, nor are we clear about what a just transition means - petro-economies can’t just be left behind #fossilfuels #justtransition 6. How do we grow mining of critical minerals? Challenges are vast, success isn’t a slam dunk. Responsible practices, blended finance and ASM formalization are all necessary. #mining #criticalminerals #responsiblemining #blendedfinance #asm Is there a grand compromise of sorts that cuts past geopolitical rivalries, active conflict in Israel, Ukraine, Sudan and elsewhere, political value capture from fossil fuel interests, and challenges with moving capital at scale? Time will tell, but the bottom line is that there isn’t a choice about whether to speed up progress - 2023 is the warmest year on record.

COP28 - taking stock of what we have done and what have not, what if we also accelerate actions... beginning with mass educating and strategic doing on eco-literacy, on all fronts, ... finance, environment, communities, ... individuals, me and you...

COP29 | What should be the African agenda at COP28? Rafiq Raji ISPI 24 Nov 2023 ✔️ Africa needs slower fossil fuels phasedown ➖ Agree on global carbon pricing rules ➖ Support African green minerals industrial policy https://lnkd.in/dx4TrwVg # africa climate economics cop28 eu us china mining trade globalisation investment