Climate action is critical for the more than one billion people who live in poverty in developing countries that are rich in fossil fuels and minerals. They already face devastating climate impacts, such as droughts and floods, despite bearing little responsibility for the emissions that have caused warming. They also face high risks of severe economic turmoil as global energy markets change. But too often their needs and ambitions for a just energy transition are omitted from the global climate dialogue.
At the COP27 UN Climate Conference in Sharm el-Sheikh, NRGI and partners will share two key messages:
Developing countries that still depend on revenues from oil, gas and minerals—countries at the core of our organization’s mission—have not yet received the financial and technical support they need to engage in their own energy transitions. We will convene evidence-driven, inclusive discussion of pathways for financing with a focus on the just energy transition partnership (JETP) model for gas-producing countries.
Demand for transition minerals—critical inputs to green technology—will increase six-fold if the world is to reach net zero emissions by 2050. Officials and citizens in mineral-rich developing countries expect this growing demand to finance development—which is possible, if properly managed. We call on donors, financial institutions, governments, companies and civil society actors to draw on past lessons and work together to improve governance standards in mineral production and prevent corruption in supply chains.
Our events in Sharm el-Sheikh—and the research that underpins them—are part of NRGI´s work to advance a just transition. Energy transitions must be equitable, well-governed, and planned and managed in ways that recognize all citizens’ right to a role in decision-making. Just transitions reduce poverty, economic inequality and social exclusion, and comport with international climate justice. Wealthy, polluting countries must deliver their fair share of emissions reductions and finance to support international climate action and energy transition.
COP is by no means the end of this road, but an opportunity to chart the onward journey and galvanize future actions that work for planet and people. Have a look at our COP27 microsite, follow along virtually or find us in Sharm el-Sheikh to discuss just energy transition pathways for countries rich in oil, gas and minerals.