ForumIAS announcing GS Foundation Program for UPSC CSE 2025-26 from 27th May. Click Here for more information.
Source- This post on UN Panel on Critical Energy Transition Minerals is based on the article “Critical Energy Transition Minerals at the United Nations” published in “Forbes” on 30th March 2024.
Why in the News?
Recently, the UN has formed a panel specifically focused on critical energy transition minerals. These critical minerals are generally found in the underdeveloped nations, such as African nations. The heavy demand for these minerals is leading to emerging concerns of resource nationalism and environmental destruction.
Thus, the panel has been established to foster a dialogue mechanism and prevent negative resource nationalism.
About UN Panel on Critical Energy Transition Minerals
1. Aim: The panel aims to develop a set of global common and voluntary principles to guide the transition and accelerate the adoption of renewable energies.
2. Objective: The objective of the panel is aligned to the 2030 Agenda for Sustainable Development, the United Nations Framework Agreement on Climate Change and its Paris Agreement. It has twofold objective:
a) To support a just and equitable transition to renewable energies.
b) Ensure that countries and local communities benefit economically while safeguarding social and environmental protections.
3. Composition: Presently, the panel comprises 23 countries in addition to the African Union, alongside 14 non-governmental organizations representing diverse entities ranging from youth collectives to the World Bank. Both China and the United States are key members.
4. Importance of Critical Energy Transition Minerals:
a) Critical energy transition minerals like copper, lithium, nickel, cobalt, and rare earth elements are vital for clean energy technologies like wind turbines, solar panels, electric vehicles, and battery storage.
b) The global shift towards renewable energy to mitigate carbon emissions has increased the demand for critical minerals. Recent projections have suggested a threefold increase by 2030.
Read more: Critical Minerals Summit
UPSC Syllabus: International Organisation
