Addis Ababa — Africa wants clear and fair-trade practices for a simply power transition, mentioned the Deputy Govt Secretary United Nations Financial Fee for Africa (ECA), Antonio Pedro, at an African Consultative Webinar on Important Vitality Transition Minerals and the UN International Framework on Simply Vitality Transitions in Addis Ababa.
He mentioned that Africa must create a aggressive mineral sources improvement setting which “permits it to trip the crest of mineral costs as a result of technological developments, together with people who create substitutes, are creating quick.”
“Amongst different methods to reinforce the home footprint of the Important Vitality Transition Minerals (CETMs) sector, African international locations have to curb the export of unfinished mineral merchandise by way of worth addition and beneficiation to reap rewards on the increased finish of the mineral worth chains,” mentioned Pedro.
The webinar was attended by officers and consultants from governments, civil society and different stakeholders from the area.
Pedro famous the progress made by African international locations to enhance governance, however mentioned challenges stay in lots of different areas corresponding to taxation, worth addition, and the strengthening of linkages.
Moreover, he mentioned the exploitation of minerals poses multifaceted environmental, social and geopolitical challenges.
“The abundance of cobalt, manganese, lithium, nickel, copper, graphite, and different minerals positions Africa as a key participant in shaping the way forward for clear power provide and, with it, world sustainable improvement,” mentioned Pedro.
“However, a simply and truthful exploitation will generate sustainable jobs, diversify economies, and dramatically enhance revenues which, can assist improvement and transformation.”
Presenting the work of the UN Secretary-Normal’s Group on Important Minerals for the Vitality Transition and the UN International Framework on Simply Transitions, Angela Kariuki, Authorized Officer at Regulation Division United Nations Atmosphere Programme (UNEP), mentioned the UN’s efforts to assist international locations in transitioning to vital power minerals by way of a simply transition framework which goals to reduce environmental and social risked whereas harnessing the financial potentials of those sources.
“Key rules of the framework embody assessing and managing nature and social-related dangers, defending native communities and selling circularity in worth chains,” mentioned Kariuki emphasizing on the significance of defending folks and the planets by way of these efforts.
Financial Affairs Officer on the Division on Know-how and Logistics of the United Nations Convention on Commerce and Growth (UNCTAD), Clovis Freire additionally pressured the significance of transparency and fair-trade practices for a simply power transition.
“Belief is essential for a profitable transition and there’s want for communication and collaboration amongst stakeholders,” he mentioned.
In his presentation on the Regional context of the UN’s work within the extractive industries sector, John Sloan Financial Affairs Officer, ECA emphasised the potential of mineral based mostly improvement for financial transformation in Africa, highlighting the area’s huge mineral endowments and the necessity for worth addition and job creation in mining trade.
He known as upon the personal sector, governments and civil societies to revisit incentives for job creation in sectors like manufacturing and the necessity to handle want for world coverage stability given fast expertise modifications.
“There may be have to deal with mineral based mostly improvement in Africa specializing in worth addition and financial transformation,” mentioned Sloan.
The UN Secretary Normal’s panel on vital minerals was launched on 26 April 2024 and consists of the most important vital power transition minerals producing and consuming international locations, in addition to regional and worldwide establishments energetic within the power transition area, commerce associations for mineral producers globally, civil societies.
