Trade in Critical Raw Materials: Cooperation for a Greener Future

A successful green transition will require a large increase in the supply of critical minerals and metals. Yet geopolitical frictions, which have put the global economy on a path toward fragmentation, could not only have profound implications for economic stability and growth but could also jeopardise efforts to combat climate change.

Technological decoupling by the US and the European Union's vision of "strategic autonomy" have the stated goal of preventing other countries from weaponising trade, but carry significant risk of retaliation. As of 2022, 30% of exports of critical raw inputs were under some form of export restrictions, and a further proliferation of such restrictions could be detrimental to the green transition.

This session will explore how to support multilateral efforts in the global fight to preserve planetary health and humanity's future. The benefits of reducing greenhouse gas emissions and tackling climate change are universal. Therefore, reducing trade conflicts, countering fragmentation in the supply of critical raw materials and building trust need strong support and voice in international fora.

Speakers

Odile Renaud-Basso - President of the European Bank for Reconstruction and Development
Jakob Stausholm - Chief Executive Office, Rio Tinto
Ngozi Okonjo-Iweala - Director-General, WTO
Valdis Dombrovskis - European Commissioner for Trade, European Commission

Moderator

Beata Javorcik - Chief Economist of the European Bank for Reconstruction and Development