ADB, WTO spotlight critical minerals with new trade database

The Asian Development Bank (ADB) and the World Trade Organisation (WTO) Secretariat have unveiled a groundbreaking resource to enhance the transparency of critical minerals trade.

The Trade in Critical Minerals (TiCM) database, launched on November 20 at the COP29 climate conference in Baku, offers comprehensive insights into the trade dynamics of 250 essential minerals pivotal to renewable energy technologies and decarbonisation efforts. This includes lithium, cobalt, and rare earth elements, which are indispensable for producing electric vehicle batteries, wind turbines, and other clean energy infrastructure.

The database aims to tackle the growing global demand for these minerals by providing policymakers, researchers, and industry stakeholders with access to trade flows, tariff structures, and policy frameworks. By integrating data from multiple sources, including the WTO Analytical Databases and Trade Monitoring platforms, the TiCM database offers advanced tools such as bar charts, tree maps, and network graphs for in-depth analysis of trade patterns and partnerships.

“Critical minerals are at the heart of the clean energy transition,” an ADB spokesperson stated, highlighting the urgency of building sustainable and resilient supply chains. The resource is positioned to aid countries in addressing trade bottlenecks, ensuring equitable access to minerals, and fostering collaboration for a sustainable energy future.

The TiCM database’s launch underscores the commitment of the ADB and WTO Secretariat to bridging data gaps and facilitating informed decision-making. As countries work towards ambitious climate targets, including tripling renewable energy capacity by 2030, the initiative is expected to play a crucial role in streamlining trade and promoting inclusive development in the critical minerals sector.

…………

About CableNews24

At CableNews24, we’re your trusted companion in navigating today’s fast-paced world-your gateway to a world of instant information, updates, and compelling stories. We are not just an online TV and newspaper website; Offering a dynamic mix of up-to-the-minute news, and insightful articles, CableNews24 delivers everything you need to stay connected. Whether you’re catching breaking news in real-time or exploring in-depth coverage through our online newspaper, we promise to keep you informed, entertained, and ahead of the curve. From local happenings to global events, we deliver news that matters.  Join the CableNews24 experience – where news meets convenience, and your world comes alive.

CableNews24 – News, Anytime, Anywhere.

For Advertisement, Event Coverage/MC, Public Relations, Story/Article Publication, and other Media Services, kindly send an email to: cablenews24.com@gmail.com OR Kindly call: 08023535955 . To stay updated with the latest news stories, kindly visit cablenews24.com published by AAAANDREL GLOBAL SERVICES