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Conversations about critical raw materials — the natural resources that power everything from clean energy to smartphones, electric vehicles, and even AI systems — are not ones you hear about in every development circle, but this is starting to change. Given their critical role in the global economy and sustainable technology, they are now at the center of geopolitical power struggles, supply chain shocks, and debates around equity, governance, and sustainability.
“All the world is talking about going from fossil fuels to decarbonization, and how we should do the green transition. … But all of this will need the relevant equipment, and this relevant equipment demands critical raw materials,” said Olena Pavlenko, the president and co-founder of DiXi Group, a Ukrainian think tank focused on the energy sector.
One key challenge for the development sector is ensuring the equitable distribution of critical raw materials, especially to resource-rich nations that often miss out on their benefits.
“A lot of countries in the African continent contain many of these materials, but aren’t necessarily the beneficiaries of a lot of the value that’s extracted from them,” said Brian Kagoro, the managing director of programs at Open Society Foundations.
Pavlenko and Kagoro were joined by Devex Executive Vice President Kate Warren on the sidelines of the World Bank-IMF Spring Meetings in Washington, D.C., for a special podcast episode sponsored by the Open Society Foundations.
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