Mapping Carbon Neutrality in Uncharted Territory

Description

Extractive industries in general, and mining in particular, constitute the backbone of a large part of emerging economies. It is that sector that can generate the bulk of foreign exchange, fiscal revenues, and surpluses to finance investments for economic development. Moreover, mining (particularly copper), while being both energy and carbon-emitting intensive, is as well a key input for renewable power generation. Accordingly, it is precisely this sector that could position countries in becoming an integral part of the emerging clean-tech economy and a source of growth in years to come. This, by no means, will be easy, since, on both counts, carbon emission reductions as much as in contribution of mining to economic development have been poor, to say the least. There are clear and detectable reasons for it that could be overcome with proper policies and governance arrangements. This publication shows the empirical evidence and associated adjustments that need to be put in place. They have been presented and debated at the World Copper Conference 2022 with representatives of Governments and mining companies.