| Project Detail |
The commodities sector plays a crucial role in many developing countries, particularly in terms of domestic resource mobilisation, but also because of the manifold challenges attached to the sector such as illicit financial flows, human rights abuses and environmental degradation. Through its partnership with NRGI, Switzerland contributes to improving the governance of mineral resources in resource-rich developing countries, also in light of the ongoing global energy transition.
Without inclusive approaches to managing their resources effectively and building a just transition to a sustainable future, many resource-rich countries in the Global South will struggle to achieve key development and security objectives, the energy transition will be delayed, and social conflicts and unrest will continue. Fossil fuel-rich countries have made slower progress than others in transitioning their domestic energy systems to renewables, threatening global low-carbon ambitions, especially given high population growth in many resource-rich developing countries. A boom in demand for transition minerals that underpin renewable technologies poses major corruption risks, while actors with vested interests in fossil fuels stand in the way of a greener future. As a leading commodity trading hub, and with a view to foster sustainable economic development and political stability worldwide, Switzerland has a responsibility to address challenges related to global natural resource use.
Objectives Developing countries rich in oil, gas and minerals achieve sustainable and inclusive development, and their people receive lasting benefits from extractives and experience reduced harms (NRGI strategic goal 2020-2025). |
