Countries attending COP30 in Belém, Brazil are discussing the implications of extracting minerals for clean energy technologies, with a focus on the social and environmental risks of scaling up supply chains. The UN panel report emphasizes the importance of putting human rights at the core of mineral value chains, particularly for minerals like copper, cobalt, and lithium that are in high demand. Developing countries, including African nations, are advocating for fair and sustainable mineral supply chains for the energy transition, highlighting the need for strong social and environmental safeguards, sustainable consumption patterns, and the rights of Indigenous Peoples. There is debate over the inclusion of language on transitioning away from fossil fuels, with developing countries calling for technical assistance and international cooperation for a just energy transition, while developed countries are exploring alternatives to creating a new institution.
Tag: African nations
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Analysis: Seven charts showing how the $100bn climate-finance goal was met
Developed countries have met the $100bn climate finance target in 2022, with a significant increase in funding from the US and private investments. The top climate finance donors are Japan, Germany, France, and the US. The increase in climate finance was driven by a rise in support from multilateral development banks and an increase in bilateral finance from the US. Private investments mobilized in developing countries also saw a surge in 2022. Overall, climate finance reached $115.9bn in total in 2022. Developed countries have made a new pledge to ramp up climate finance to at least $300bn a year by 2035, with a focus on clean-power projects in African nations and adaptation projects in climate-vulnerable countries.