BM made an urgent call for critical minerals with responsible financing.

UN Calls for Responsible Financing for Critical Minerals

The report titled "Financing Responsible Sourcing of Energy Transition Minerals for Sustainable Development," prepared by the United Nations Environment Programme (UNEP), analyzes the demand, production, trade, and financing of critical minerals.

Critical Mineral Demand Increased by 500%

The report reveals that the extraction of critical minerals worldwide has increased fivefold since 1970. The rise of clean energy technologies, such as solar panels, wind turbines, and batteries, has significantly boosted the demand for these minerals. With the acceleration of the clean energy transition, the demand is expected to continue rising.

Call for Responsible Financing

UNEP calls for responsible financing to be provided to this high-risk and capital-intensive sector, urging that investments be made with this understanding. Measures such as recycling targets, state-supported financing, tax incentives, eco-design incentives, and green bonds for recycling facilities are projected to reduce the need for new raw materials.

$800 Billion Target

The report also emphasizes that, according to the International Energy Agency, mining investments in critical minerals need to reach $450 billion by 2030 and $800 billion by 2040 to achieve the net-zero emissions target by 2050.

Janez Potocnik, Co-Chair of the International Resource Panel, stated that sustainable financing could help promote the understanding of "responsible mining," highlighting that the demand for the minerals and metals necessary for the energy transition requires a mining sector that respects human rights and the environment.