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United Nations appoints panel on Critical Energy Transition Minerals | Current Affairs | Vision IAS
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United Nations appoints panel on Critical Energy Transition Minerals

Posted 29 Apr 2024

2 min read

  • The Panel aims to bring all stakeholders across the entire critical energy transition minerals value chain to develop a set of global common and voluntary principles for energy transition.
    • It will address issues relating to equity, transparency, investment, sustainability and human rights.
  • The panel comprises Government and intergovernmental actors including the European Union, African Union, Australia, Indonesia, Colombia, India, etc.
  • Critical Energy Transition Minerals are essential components in many of today’s rapidly growing clean energy technologies, from wind turbines and solar panels to electric vehicles.
    •  E.g. copper, lithium, nickel, cobalt etc. 

 

  • Challenges/Issues related to Critical Energy Transition Minerals
    • Geographical concentration: Few countries have major reserves; it may exacerbate geopolitical tensions and supply chain disruption
      • E.g. Lithium triangle- consists of Argentina, Chile and Bolivia
    • Unsustainable Mining and processing: It can lead to water pollution, destruction of ecosystems, etc., and human rights issues (such as child labour). 
    • Growing Demand: Mismatch in demand and supply. 
      • According to the International Energy Agency, demand of critical mineral is set to grow by three and a half times by 2030.

 

Other Key Initiatives 

Global 

•     Mineral Security Partnership (MSP) launched to bolster critical minerals supply chains.India is also part of it

  • Critical Minerals Mapping Initiative
  • UN Framework on Just Transitions for Critical Energy Transition Minerals (Expected to be launched by the end of 2024) 

 

India

  • Identification of 30 critical minerals crucial for self-reliance
  • Partnership with Australia for lithium and cobalt and with Argentina for lithium. 
  • Khanij Bidesh India Limited (KABIL), formed to identify, acquire, process and make commercial use of strategic minerals in overseas locations for supply in India
  • Tags :
  • Mineral Security Partnership
  • Critical Energy Transition Minerals
  • UN Framework on Just Transitions for Critical Energy Transition Minerals
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