Climate Change -
Extractive Industries -
Resource Efficency @COP23
Two-part specialist side event to UNFCCC’s COP23
Bonn, November 08th 2017
A growing world population and the successful pursuit of emerging markets for prosperity leads to a growing demand for raw materials. Existing trends consider a population growth of about 28% and a 71% higher resources use per capita, would lead from 2015 to 2050 to an increase of annual global resource extractions and resource use by 119%. Consequently, GHG emissions would be about 41% higher and go together with negative environmental impacts such as, water depletion, and the loss of biodiversity and ecosystem services threatening human well-being.
At the same time, primary resource extraction has to adapt to a changing environment as well. The demand for critical raw materials, which are essential building blocks of green technologies such as renewable energies and e-mobility, is expected to increase significantly. This poses new challenges for a sustainable management of the sector, including its supply chains.
When it comes to fossil resources (oil, gas, coal) the urgency of a paradigm shift is even greater. If the 2°-temperature goal shall be achieved and technological development progresses at current rates, many fossil fuel assets will have to become “stranded”. This in return poses great risks for public finances of developing countries relying on exports of fossil fuels.
It is therefore evident that there is a strong nexus between resource use and global climate change. As a consequence emissions pathways consistent with the Paris Agreement long-term temperature goal require a much more efficient and effective use of raw materials and resources. To contribute to mitigating global climate change, countries should consider these potentials underestimated so far for raising the level of ambition of their Nationally Determined Contributions (NDC).
The two-part technical event will therefore highlight from different perspectives possible strategies for addressing the manifold challenges the resource sector faces under conditions of climate change.
Speakers And facilitators