Ensuring Sustainable Supply of Critical Minerals for a Clean, Just and Inclusive Energy Transition

Abstract

The global clean energy transition involves large-scale deployment of a suite of renewable energy, energy storage and other new technologies. These are highly mineral-intensive and accelerated adoption of such technologies will significantly increase the demand for critical minerals (CMs). Challenges to sustainable supply of CMs include inadequate investment in mining, increased and more volatile prices, higher supply risks, negative environmental and social impacts, concerns about corruption, misuse of public finances, and weak governance. The G20 can mitigate these threats to ensure a reliable, secure, and sustainable supply of CMs for a clean, just and inclusive energy transition. Key recommendations include strengthening international cooperation, improving mineral governance, adopting a circular carbon economy and mobilising finance and investment.

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Authors: Kapil Narula, Radia Sedaoui, Harikrishnan Tulsidas, Matthew Wittenstein, Rajesh Chadha, Ganesh Sivamani, Noura Y. Mansouri, Isabelle Ramdoo, Sebastian Sahla and Morgan D. Bazilian