In 2017, the World Bank published “The Growing Role of Minerals and Metals for a Low Carbon Future”, which concluded that to realize a lower-carbon future there will be a substantial increase in demand for several key minerals and metals to manufacture cleaner energy technologies.
In other words, the clean energy transition will be significantly mineral intensive.
And while the growing demand for minerals and metals provides economic opportunities for resource-rich developing countries and private sector entities alike, significant challenges will likely emerge if the climate-driven clean energy transition is not managed responsibly and sustainably.
The Climate-Smart Mining Facility will help resource-rich developing countries benefit from the increasing demand for minerals and metals, while ensuring the mining sector is managed in a way that minimizes the environmental and climate footprint.
The Facility supports the sustainable extraction and processing of minerals and metals to secure supply for clean energy technologies by minimizing the social, environmental, and climate footprint throughout the value chain of those materials by scaling up technical assistance and investments in resource-rich developing countries.