Social Sustainability and Renewable Energy
Joost Notenboom
In this video, Joost explores the social impacts of renewable energy projects, focusing on supply chain vulnerabilities, operational challenges, and the steps investors can take to address human rights concerns and ensure sustainable development.
In this video, Joost explores the social impacts of renewable energy projects, focusing on supply chain vulnerabilities, operational challenges, and the steps investors can take to address human rights concerns and ensure sustainable development.
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Social Sustainability and Renewable Energy
13 mins 28 secs
Key learning objectives:
Understand the social risks and impacts associated with renewable energy supply chains, including human rights concerns
Identify the importance of engaging local communities and stakeholders in the planning and operation of renewable energy projects
Understand the initiatives and innovations that address social and environmental risks, creating value for investors
Outline investor’s role in promoting responsible business practices in the green economy
Overview:
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Supply chains in renewable energy are heavily reliant on raw materials, such as cobalt, lithium, and rare earth metals, which are often sourced from regions with weak governance and poor human rights practices. For example, cobalt mining in the Democratic Republic of Congo has raised concerns about child labour and unsafe working conditions. Additionally, polysilicon production in China's Xinjiang region has been linked to human rights abuses. These supply chain risks are exacerbated by the global push for decarbonisation, which increases demand for these materials.
How can these risks be addressed?
What is the role of local communities and stakeholders in renewable energy projects?
Investors should encourage their portfolio companies to engage in local stakeholder participation, especially when it comes to land rights and project approval. For example, practices like Free, Prior and Informed Consent (FPIC) give indigenous communities the right to approve or reject projects that affect their land, helping ensure that their rights are respected. Furthermore, companies should focus on providing fair working conditions and career development opportunities for employees. In a sector traditionally dominated by engineers, increasing diversity and fostering career growth for workers in renewable energy is essential for the sector's long-term success.
How can the green economy be supported through responsible business practices?
What is the future of social responsibility in the renewable energy sector?
The future of social responsibility in renewable energy lies in the continued integration of sustainability and ethics into business practices. Investors have an opportunity to shape the development of the sector by focusing on companies that are proactively addressing social and environmental risks. The focus on human rights in supply chains, local community engagement, and circularity in renewable energy production will continue to be essential. The role of investors is to guide companies in adopting these practices, ensuring that the renewable energy transition is not only environmentally sustainable but also socially responsible.
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Joost Notenboom
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