COP29: Energy transition must not trigger a ‘stampede of greed’ that crushes the poor
- 13 November 2024 12:00 pm
- By Climate Home News
The world must avoid a “stampede of greed” for critical minerals that could crush the world’s most vulnerable people, the UN’s top climate official has warned.
Patricia Espinosa, executive secretary of the United Nations Framework Convention on Climate Change (UNFCCC), said the global energy transition must not exacerbate existing inequalities.
“We must ensure that the benefits of the clean energy transition are shared equitably and that the most vulnerable are not left behind,” she said.
Espinosa was speaking at the opening of the 29th Conference of the Parties (COP29) to the UNFCCC in Sharm el-Sheikh, Egypt.
The conference is tasked with agreeing a new global climate deal to replace the Paris Agreement, which expires in 2025.
Espinosa said the new deal must include a strong focus on climate justice, which means ensuring that the costs and benefits of climate change are shared fairly.
“This means investing in renewable energy and energy efficiency, but it also means protecting the rights of indigenous peoples and vulnerable communities,” she said.
Espinosa’s warning comes as the world faces a growing demand for critical minerals, which are essential for the production of clean energy technologies such as solar panels and electric vehicles.
The demand for these minerals is expected to soar in the coming years as the world transitions to a low-carbon economy.
However, the mining of critical minerals can have a devastating impact on local communities, particularly in developing countries.
Mining can lead to environmental pollution, water scarcity, and displacement of local people.
Espinosa said it is essential that the world finds a way to meet the demand for critical minerals without harming the most vulnerable people.
“We must ensure that the benefits of the clean energy transition are shared equitably and that the most vulnerable are not left behind,” she said.
The COP29 conference is scheduled to run until 18 November.
Key points:
- The world must avoid a “stampede of greed” for critical minerals that could crush the world’s most vulnerable people.
- The global energy transition must not exacerbate existing inequalities.
- The new global climate deal must include a strong focus on climate justice.
- The mining of critical minerals can have a devastating impact on local communities, particularly in developing countries.
- It is essential that the world finds a way to meet the demand for critical minerals without harming the most vulnerable people.
COP29: Energy transition must not trigger a ‘stampede of greed’ that crushes the poor
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