United Nations Secretary-General Antonio Guterres addresses a virtual global roundtable on transforming extractive industries for sustainable development at the UN headquarters in New York, on May 25, 2021. Guterres on Tuesday called for a transformation of extractive industries to support sustainable development and a transition to a green economy. (Mark Garten/UN Photo/Handout via Xinhua)
UNITED NATIONS, May 25 (Xinhua) -- UN Secretary-General Antonio Guterres on Tuesday called for a transformation of extractive industries to support sustainable development and a transition to a green economy.
"We have all heard talk of the resource curse. Our shared responsibility is to ensure that the benefits of mineral resources reach all people in society, not just elites, while safeguarding the natural environment today and for future generations," Guterres told a virtual global roundtable on transforming extractive industries for sustainable development.
"Mineral resources are one of Earth's great endowments. Their extraction plays a dominant role in the economies of 81 countries," which account for a quarter of global Gross Domestic Product, half the world's population and nearly 70 percent of people living in extreme poverty," Guterres noted.
Guterres noted the growing dependence less developed countries have on extractive industries.
"Of the world's 72 low- or middle-income countries, 63 have increased their dependence on extractive industries over the past two decades. These industries generate large amounts of foreign exchange earnings, foreign direct investment and government revenues. They have the potential to drive economic growth and poverty reduction," he added.
"Yet, extractive industries are also potentially associated with a litany of ills -- corruption, exploitation, colonialism and racism; environmental degradation, worsening climate change and biodiversity loss; armed conflict, gender-based violence, population displacement, cultural harm and human rights violations," he said.
Guterres stressed the "need to improve extractive resource governance through more effective rules and enforcement related to environmental sustainability, transparency, inclusive decision-making, accountability, access to information and respecting and protecting human rights."
He asked countries to reduce dependence on revenues from extractive industries and invest in a low-carbon future. In this context, there is a "need for greater regional and global coordination to manage shocks and ensure a smooth, just and sustainable transition process."
Guterres said a COVID-19 recovery provides a chance to bolster support for environmental protection and sustainable development.
"We need all hands on deck to address the triple threat of climate disruption, biodiversity loss and pollution and to promote equitable, inclusive development where no one is left behind," Guterres said.
"The extractives sector, which operates at the crucial juncture of resources, ecosystems and people, has an essential role to play in advancing sustainability and equitability," he added. Enditem
