Global Governance Challenges for Critical Minerals Amidst Strategic Competition
The race for critical minerals, essential for energy transition, reveals significant geopolitical tensions and governance challenges. Countries are prioritizing supply chain security over ecological and social justice, raising concerns about human rights and environmental impacts.
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The governance of critical minerals essential for energy transition faces strategic competition among major powers and producer nations. The UN established a group to discuss equity and sustainability in June 2024, resulting in seven principles and five recommendations presented at COP29 and COP30.
Significant reserves are concentrated in the Global South, with the Democratic Republic of the Congo holding nearly 50% of cobalt reserves. The final COP30 resolution omitted binding governance on critical minerals, instead advocating for voluntary international cooperation.
The U.S. initiated a framework for supply cooperation, contrasting with China's bilateral efforts with South Africa. Fragmentation in governance is evident as geopolitical tensions rise, impacting human rights and indigenous communities without adequate ecological considerations.
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