Mineral Trust for the Green Transition

Introduction

• Essential minerals are critical for metabolism and are traded even in times of war
• Minerals are also vital for building infrastructure for clean, reliable energy
• Sustainable energy sources (solar, wind, hydropower, geothermal) require more materials
• Research shows the higher material demand for renewable energy

Conflict and Geography

• Conflicts involving minerals and energy are intractable due to geographic constraints
• Notable examples: South Africa's platinum reserves, China’s dominance in refining technologies
• Critical materials are confined to specific areas
• Geopolitical and domestic conflicts arise over resource control and environmental concerns

Diversification and Development Challenges

• Diversification can lead to the development of new, potentially less efficient, and environmentally harmful sites
• Greenfield development faces resistance from local communities due to social and environmental risks
• Example: The U.S. Department of Interior denying a permit for a project in Minnesota

Geopolitical Tensions and Domestic Conflicts

• Competing needs between countries with resource supplies and those with demands (e.g., China vs. the USA)
• Domestic and international tensions create a complex scenario

Proposal: Mineral Trust for Green Transition

• Similar to an asset protection trust
• Beneficiaries: mineral-producing countries
• Trustees: technology producing countries
• Managed by technical arms of the UN like the International Renewable Energy Agency
• Technocratic and efficient approach, including a green stockpile for price buffer

Addressing the Skeptics

• Argue for less consumption especially in high-income countries
• Highlight the need for recycling, though limited by product longevity
• Example: Electric car batteries' average lifespan is 14 years, delaying recycling opportunities

Trust Mechanism and Recycling

• Mineral trust can support recycling efforts, stockpiling, and metal leasing

Cooperation and Precedent

• Historically, countries have cooperated on environmental issues during times of conflict (e.g., Antarctic Treaty, ozone layer protection)
• International cooperation institutions like IASA have been effective during the Cold War

Conclusion

• Highlight the urgent need for a mineral trust due to impending climate change tipping points
• Emphasize the potential for international cooperation
• Minerals are a civilizational asset essential for both mitigation and adaptation to climate change
• Appeal for collaboration over conflict to secure a sustainable future