The pace of the global energy transition could determine the world’s ability to keep temperature rise to well below 2°C above pre-industrial temperatures. But the transition will not come without its challenges. Modern low-carbon energy systems are replacing fuel-hungry technologies with mineral-hungry ones. The demand for minerals needed to support a low-carbon future will have a major impact on global commodity supply chains. Countries will need to manage this demand realignment if they are to secure their net-zero futures.
Minerals are, by their very nature, unequally distributed across the world. Many countries that will most need these minerals to fuel their energy transition lack sufficient domestic resources. Other countries are blessed with vast deposits, but these often sit within socially and ecologically sensitive areas. The global community bears a responsibility to ensure that these minerals reach the markets that need them most, while avoiding the ravages of the past by protecting the most vulnerable against unjust resource exploitation.