Background

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The transition to clean energy is a global emergency, so a clear vision of an inclusive energy future is urgently needed. However, simply replacing traditional sources of energy with renewable energy is not necessarily a straightforward solution, particularly if such a drastic shift causes increased and lopsided injustices for affected communities and workers.

In Asia, many countries are introducing policies to attract domestic, regional, and international investment in renewable energy solutions which in turn also increases the demand for transition minerals required to power these new technologies. As the transition minerals value chains expand, financial institutions and companies must strengthen their human rights due diligence and take a more active role in identifying and remedying harms in the extractive industry, which is among many sectors linked to serious violations of land rights, Indigenous Peoples’ rights, threatening the livelihoods of surrounding communities, and polluting the environment. The energy transition is an opportunity for core stakeholders like companies and financial institutions that invest in them to reinvent their business models. 

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Amidst this evolving landscape, FFA and BHRRC propose a panel to discuss a two-pronged approach to influencing an equitable transition. This discussion will unpack how financial institutions and businesses can align their investment decisions with international human rights standards and propose how new business models in renewable energy can deliver shared prosperity. Leveraging our partners’ work and new case studies, speakers will engage on how to implement effective remedy mechanisms for communities most vulnerable to the negative impacts of Asia’s energy transition to power renewable energy technology.