ECLAC co-organized parallel event at COP29 on critical minerals for the energy transition

On November 19, 2024, within the framework of the United Nations Climate Change Conference (COP-29) held in Baku, Azerbaijan, the side event “Harnessing Critical Energy Transition Minerals for Sustainable Development” was held, co-organized by the Economic Commission for Latin America and the Caribbean (ECLAC) together with other United Nations Regional Commissions, the United Nations Environment Program (UNEP) and partners key member of the Secretary-General’s Working Group on the Transformation of Extractive Industries. The main objective of the event was to socialize the principles and recommendations of the Secretary General’s Panel on Critical Energy Transition Minerals, established in the report titled “Resourcing the Energy Transition: Principles to Guide Critical Energy Transition Minerals Toward Equity and Justice”. This document, presented in September 2024, proposes seven fundamental principles to ensure responsible, equitable and sustainable value chains, along with five key actions for their effective implementation.

The event also sought to highlight the efforts of the United Nations to advance the implementation of these principles, promote multi-stakeholder cooperation and discuss effective mechanisms to translate the recommendations into concrete policies that ensure that the countries and communities where these resources are extracted benefit. in a fair manner. Critical minerals, such as lithium, copper, cobalt and rare earths, were identified as essential for clean technologies, from wind turbines to electric vehicle batteries, but their management must avoid perpetuating historical inequalities and minimizing socio-environmental impacts.

The opening of the event was led by Chantal Line Carpentier, efa of the Trade and Environment Division of UNCTAD; Mirey Atallah, head of UNEP’s Adaptation and Resilience Division; and Dmitry Mariyasin, Deputy Executive Secretary of the United Nations Economic Commission for Europe (UNECE). Also shared at the opening were video messages from Armida Salsiah Alisjahbana, Executive Secretary of the Economic and Social Commission for Asia and the Pacific (ESCAP), Rola Dashti, Executive Secretary of the Economic and Social Commission for Western Asia (ESCWA) and by José Manuel Salazar-Xirinachs, Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC).

The Executive Secretary of ECLAC emphasized that Latin America and the Caribbean, as one of the regions that concentrates an important part of the global production of lithium, copper and other minerals necessary for the energy transition, faces both opportunities and challenges in the use of these resources. He highlighted that it is essential to transform value chains to guarantee not only economic growth, but also social justice and environmental sustainability, and that it entails opportunities for value addition and a fair distribution of the benefits of the exploitation of these minerals, in line with the recommendations of the Panel.

The event also featured the participation of other international representatives such as María José Torres, UN Resident Coordinator in Chile, and Denis M. Gyeyir, from the Natural Resource Governance Institute (NRGI). Topics such as the governance of critical minerals, challenges in implementing the Panel’s principles and priorities to ensure that local communities benefit from the development of these resources were addressed. Likewise, the importance of strengthening institutional capacities and promoting transparency in supply chains was highlighted.

During the session, public interventions reiterated the need for greater participation and consideration of indigenous peoples and local communities in mining projects, recalling that these actors are usually the most affected by extractive activity.

ECLAC reaffirmed its commitment to supporting the countries of the region in the implementation of the Panel’s principles and recommendations, through initiatives such as the Permanent Forum for Technical Dialogue on Innovation and Technological Development in the Lithium Value Chain. The event concluded with a call to action to transform the principles into concrete policies that ensure that critical minerals become drivers of inclusive growth and sustainability.

For more information, you can consult the full report of the Secretary-General’s Panel on Critical Minerals for the Energy Transition at the following link: Report of the Secretary-General’s Panel.