Panama’s Supreme Court has unanimously rejected a government copper contract with a Canadian company, triggering an ongoing ripple effect. On the surface, it may bode poorly for the renewable energy cause. However, after a little more digging — no pun intended — it may be a net plus for developing countries.
Raw materials such as copper, cobalt, and lithium are central to the renewable energy revolution — the construction of everything from windmills and solar panels to electric vehicle batteries. But producers dig for the natural resources in poorer countries while conglomerates potentially get rich by building high-value end products.
Many Panamanians thought they were getting the short end of the stick — a mere slice of the overall wealth. And at what cost? Breaching the rights of indigenous natives, destroying the natural habitat, and possibly draining some water basins. Panama’s high court said that infringes on the country’s sovereign rights.
“Our legal system recognizes that nature is a ‘collective, indivisible, and self-regulated entity, comprised of biodiversity and ecosystems,’” requiring the country to ensure their protection, respect, permanence, restoration, and regeneration, the Supreme Court ruled.
For the rest of this article: https://www.forbes.com/sites/kensilverstein/2024/01/15/panamas-high-court-prizes-ecosystems-over-copper-mining-the-impact/?sh=110ed4d6f5a3