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UID:6a7c2d226c589
DTSTART:20231204T054000Z
SEQUENCE:0
TRANSP:OPAQUE
DTEND:20231204T063000Z
LOCATION:Dubai\, United Arab Emirates
SUMMARY:COP28 Trade Day event: Critical minerals\, the energy transition an
 d the role of trade
CLASS:PUBLIC
DESCRIPTION:The upcoming COP28 United Nations climate summit\, which will t
 ake place from 30 November to 12 December in Dubai\, will spotlight the ro
 le of trade in goods and services and trade policy can play in bolstering 
 and accelerating the clean energy transition.The conference\, hosted by th
 e United Arab Emirates (UAE)\, will dedicate an entire day to discussions 
 on trade\, the first of its kind within the context of a UN climate confer
 ence. The Trade Day is scheduled for 4 December 2023.“Trade Day” at CO
 P28 will highlight trade’s potential as a catalyst for climate-smart dev
 elopment\, focusing on issues like value-chain decarbonization and resilie
 nce.As part of the Trade Day events\, UNCTAD and the COP28 Presidency are 
 organising a session on “Critical minerals\, the energy transition\, and
  the role of trade.”The session will address how trade policy and the mu
 ltilateral system can facilitate an enabling international trade and inves
 tment environment that will help to secure energy transition-related value
  chains while increasing mineral-rich countries&#039\; benefits by fosteri
 ng &#039\;on-site&#039\; value addition and\, thereby\, creating socio-eco
 nomic development opportunities.Background informationThe anticipated sign
 ificant growth in the demand for critical minerals in the upcoming decades
  to support the energy transition could offer unique development opportuni
 ties for mineral-rich developing countries if a different approach is take
 n. The anticipated investment in extraction and processing is vastly insuf
 ficient to meet the expected demand and a just\, equitable and sustainable
  transition.There is a need for countries to strengthen their domestic cap
 acities to leverage development gains avoiding another natural resource cu
 rse at the expense of people and planet. UNCTAD’s work on trade of criti
 cal minerals addresses current and projected trends in critical minerals&#
 039\; demand and supply as well as social\, economic\, and environmental i
 mpacts of the exploitation of these minerals and offers policy recommendat
 ions to facilitate sustainable exploitation\, enhanced trade diversificati
 on\, and domestic resource mobilization for structural transformation to a
 chieve the SDGs. There is also a need for robust and effective governance
 . During the Secretary-General’s Climate Ambition Summit in September (i
 n support of the UN Secretary General&#039\;s Working Group on Transformin
 g the Extractive Industry for Sustainable Development initiative “Harnes
 sing Critical Energy Transition Minerals for Sustainable Development in LD
 Cs and LLDCs  Just Transitions in Low Carbon Technologies&quot\;)\, gover
 nments signalled their support for a UN-led effort to create a set of glob
 al voluntary principles on Critical Energy Transition Minerals\, (see: Cha
 ir’s Summary of the Climate Ambition Summit 2023). These minerals are vi
 tal for the shift from fossil fuels to renewables\, but to date\, their us
 e has lacked a global framework to address sourcing and policy coordinatio
 n. Leaders agreed that only the United Nations can act as neutral broker t
 o ensure a just\, equitable and sustainable expansion of these resources a
 nd the emerging industries they create.The objective of the session is to 
 forge consensus on the need to foster domestic value-addition to critical 
 minerals in producing developing countries to increase supply chains resil
 ience\, and sustainability\, and to ensure fairer distribution of benefits
  from trade in critical minerals-based products to all value chain partici
 pants. ProgrammeModerator:Mr. John Defterios\, Visiting Professor of Busi
 ness\, NYU Abu DhabiSpeakers:Ms. Rebeca Grynspan\, Secretary-General\, UNC
 TAD H.E. Mr. Jean Lucien Bussa Tongba\, Minister of Trade\, DRC H.E. Ms.
  Lucia lipumbu\, Minister of Trade\, Namibia H.E. Ms. Kristin Tilley\, Am
 bassador for Climate Change\, AustraliaMr. Rohitesh Dhawan\, President and
  CEO\, International Council on Mining and MetalsMr. Selwin Hart\, Assista
 nt Secretary-General for Climate and Special Adviser to the Secretary-Gene
 ral\, United Nations  https://www.un.org/sites/un2.un.org/files/climate_
 ambition_summit_-_20_september_2023_-_chairs_summary.pdf\n\nView meeting o
 n unctad.org\nhttps://unctad.org/node/43376
DTSTAMP:20260812T082154Z
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