There is also an opportunity for companies in transition mineral value chains to use voluntary standards to certify their environmental, social and governance (ESG) performance and meet their supplier due diligence requirements. There is also an opportunity for industry to collaborate in the development of value chains from mining to the manufacturing and deployment of energy transition technologies.įor governments and consumers in countries importing transition minerals, there is an opportunity for more responsible and reliable sourcing through regulation and open data initiatives. This can in turn promote local procurement, employment and livelihoods linked to mining, social investment and community-led development. In resource-rich countries, there is an opportunity to improve governance frameworks and transparency to attract investment in the extraction and beneficiation of transition minerals.
Yet there are numerous opportunities to address these risks. Spanning across global, transnational, national and subnational levels of mineral governance, these risks are manifold, ranging from environmental impacts and corrupt deals to price shocks and disruptions in global supply chains. Increased demand for transition minerals is bringing about risks for diverse stakeholders which, if not addressed, could hinder the sector’s contribution to sustainable development and inhibit the fight against climate change.
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