There are also serious impacts from the extraction of critical minerals and metals vital to AI chips and, of course, the energy transition. Water and air contamination. The degradation of indigenous people’s lands. Loss or displacement of biodiversity, including species such as Great Apes, our closest living relatives.
So, it is good to note that the Secretary-General’s Panel on Critical Energy Transition Minerals last week released seven voluntary principles designed to transform mineral value chains by putting human rights, justice, equity and environmental protection at the forefront.
The reality is that as a civilization we must now invest in a sustainable supply of minerals and metals to drive the digital transformation and energy transition. And the reality is also that these minerals and metals are indeed a huge opportunity for many nations to increase revenues for sustainable development – if they break exploitative colonial patterns and ensure value addition is done at home.
However, since ramping up unsustainable mining would further damage the environment, and exhaust supplies, we need to approach the sector with clear-headedness, not with a mind clouded by a “gold rush fever” approach. We must tread carefully rather than rush forward, blinded by the sweet deals dangling before our eyes, like those who rushed to pan for gold in California in 1849.
We need cool heads to deliver solid policies on environmental stewardship, circularity, equity and justice. Because we are lagging far behind. Currently, only around one per cent of rare earth elements are recycled. One per cent. Looking at e-waste in general, only 22 per cent is recycled and disposed of in an environmentally sound manner.
Before we start, we need to have clear environmental management in place. Circularity policies in place. Justice in place. Transparency on the deals in place. Revenue management in place to prevent what economists refer to as Dutch disease – an increase in the economic development of one sector and a decline in other sectors.
The bottom line is that investment in “value addition” and in recovery of materials from circularity will be critical to expand economic and labour opportunities.
To this end, governments, international organizations and the private sector must unite under the Global Digital Compact. By working together, we can ensure equitable access to digital technologies. Minimize the environmental impacts. And use these technologies to create economic growth and sustainability on a healthy planet that supports us all.
link