The latest UN climate conference, COP28, has confirmed what many have already suspected: the world needs more critical minerals to successfully decarbonise and transition to renewable energy.
Speaking at the summit in Dubai, the UN Secretary-General António Guterres said that the availability and accessibility of critical minerals is crucial if the world is to reach the goals set by the 2015 Paris Agreement.
The overarching goal of the Paris Agreement is to hold “the increase in the global average temperature to well below 2°C above pre-industrial levels” and pursue efforts “to limit the temperature increase to 1.5°C above pre-industrial levels.”
“COP28 must commit countries to triple renewables capacity, double energy efficiency, and bring clean energy to all, by 2030,” Gueterres said.
“We need a just, fair and equitable transition from fossil fuels to renewables… The very existence of some countries in this room depends on it.”
Gueterres said that demand for minerals such as copper, lithium, and cobalt is set to increase almost four-fold by 2030 and in response, he will create the Panel on Critical Energy Transition Minerals.
“The Panel will bring together governments, international organisations, industry and civil society to develop common and voluntary principles to guide extractive industries in the years ahead in the name of justice and sustainability,” he said.
Another topic stemming from COP28 was the phasing down of coal. The conversation began at COP26, with nine new countries coming on board this year.
The Powering Past Coal Alliance, launched at COP23 in 2017, also issued a statement calling for COP28 to set a coal phase-out strategy, calling on financial institutions to end their funding for unabated coal plants.
Uranium discussions were also on the books, with 22 countries calling for tripling the global nuclear energy capacity by 2050. Currently, nuclear power is banned in Australia.
“(The 22 countries) recognise the importance of financing for the additional nuclear power capacity needed to keep a 1.5°C limit on temperature rise within reach,” the declaration said.
“The participants in this pledge commit to work together to advance a global aspirational goal of tripling nuclear energy capacity from 2020 by 2050.”
Guterres called on “the big emitters” to reduce their emissions to help the world reach net-zero.
“So I think you have a moral authority to tell big emitters, namely the G20 countries that represent 80 per cent of the emissions, it’s time to seriously reduce emissions,” he said.
“You can be champions of an energy transition that is sustainable, just, inclusive, and equitable. But to do all of this, you need much, much more support.”
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