Transforming global critical minerals governance: is a green new international economic order possible?

As states scramble, albeit at different speeds and with different degrees of conviction, to move to greener energy sources, the demand for critical minerals will inevitably increase over the coming decades. How critical minerals are governed is a crucial question at multiple levels. Here, we focus on the global level. We first consider the lessons from a previous global transformative initiative, namely the New International Economic Order (NIEO). We analyse inter- and intra- North–South dynamics and the appeal of resource nationalism. The NIEO still serves as an aspiration of relevance for the contemporary period despite its ultimate demise. However, we underscore the fact that the possibilities for collective action by the Global South to transform the global governance of critical minerals now are limited by two significant challenges. Firstly, many current international frameworks remain dominated by the countries of the Global North. Secondly, Global South states, exemplified by China, arguably the most important state in critical mineral extraction and supply, have often pursued nationalistic resource policies. We examine what these challenges mean for the potential of a Green New International Economic Order (GNIEO) or broader South–South collaboration to promote transformative global governance of critical minerals for just development.