Global Minerals Fund: UN and scientists' proposal to ensure a green transition with justice and international cooperation
Research summary
Proposal for the creation of a Global Minerals Fund to ensure fair and sustainable access to minerals essential for the energy and technological transition.
The initiative seeks to replace the current logic of competition and exploitation with a cooperative and transparent approach, with mechanisms for auditing and international governance.
The proposal is especially relevant in light of the growing geopolitical tensions and the increasing global demand for minerals such as lithium, cobalt, and rare earths.
Researchers:
Saleem H. Ali
Daniel M. Franks
José Antonio Puppim de Oliveira
Kaveh Madani
Owen Gaffney
Eva Anggraini
Leonard Wantchekon
Xianlai Zeng
The global demand for critical minerals — such as lithium, cobalt, nickel, and rare earths — is rapidly increasing with the advancement of the transition to clean energy and the use of technologies like batteries, electric vehicles, and artificial intelligence. However, access to these vital resources is increasingly marked by geopolitical disputes, trade sanctions, and environmental risks. How to prevent green transition minerals from becoming the "new oil," concentrated in the hands of a few and a source of conflict?
To address this urgent issue, scientists from the United Nations, with the participation of Professor José A. Puppim de Oliveira, from FGV EAESP, published an article in the journal Science, proposing the creation of a Global Minerals Fund. This is a cooperative solution to promote peace, justice, and sustainability in the trade of these resources.
The article was published in the Policy Forum of the journal Science by the team from the United Nations University (UNU-INWEH), with co-authorship from researchers from different countries. The publication synthesizes evidence and proposals based on previous studies and international experiences in natural resource governance. Furthermore, the text highlights how the G7 can lead the implementation of this idea starting from the Canadian presidency in 2025.
From exploitation to cooperation: a new model of mineral governance
The Fund's proposal is to create a neutral and multilateral platform to facilitate the trade of essential minerals. All of this with independent audit mechanisms, transparency in negotiations, and respect for the sovereignty of countries. Therefore, the idea is to ensure fair prices, avoid politicized supply interruptions, and support developing countries with technical assistance and access to green technology.
The participating countries would maintain control over their resources but would commit to rules that prioritize the use of these minerals in sustainable technologies. Moreover, they prohibit their use as a tool of political pressure. The Fund would function as a kind of "international stock exchange" for minerals. It stimulates the circular economy, reuse, and recycling, in addition to reducing the environmental damage caused by uncontrolled mining.
Climate justice and international security with the Mineral Fund
Based on models already used by organizations such as the International Atomic Energy Agency, the Fund would also serve as an instrument of global justice. It would ensure that producing countries received fair compensation for their resources and could develop local industries to add value to the minerals, contributing to their own economic and environmental progress.
Moreover, the Fund aims to prevent trade conflicts, avoid cartels, and protect vital supply chains for the planet's energy future. According to the researchers, it is the chance to replace the extractive model with responsible resource management.
Finally, the Global Minerals Fund offers a concrete and viable alternative to the current fragmentation of the mineral trade. Instead of geopolitical rivalries and predatory exploitation, it proposes governance based on cooperation, justice, and sustainability. If implemented, the proposal can ensure that the green transition is indeed fair — benefiting not only powerful countries but all of humanity.
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