The Climate-Smart Mining Facility will help resource-rich developing countries benefit from the increasing demand for minerals and metals. That is while ensuring the mining sector is managed in a way that minimizes the environmental and climate footprint.
The Facility supports the sustainable extraction and processing of minerals and metals to secure supply for clean energy technologies. It is by minimizing the social, environmental, and climate footprint throughout the value chain of those materials. Scaling up technical assistance and investments in resource-rich developing countries will enable that.
While the growing demand for minerals and metals provides economic opportunities for resource-rich developing countries and private sector entities alike, significant challenges will likely emerge if the climate-driven clean energy transition is not responsible and sustainable.
The Climate-Smart Mining approach has been developed in concert with the broader UN Sustainable Development Goals. The goal was to ensure that the decarbonization of the mining and energy sectors also benefits resource-rich countries. These countries host these strategic minerals and their extraction directly impacts communities.
Climate-Smart Mining builds on the work the World Bank is doing to help ensure resource-rich developing countries benefit from their mineral resources and manage them in a sustainable manner while fostering economic growth and development. Our technical support also helps governments improve the investment climate by strengthening governance and building the capacities of key institutions, policy frameworks, and legislation.
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