Resource Security

Resource security is a serious problem that affects all countries. Exploiting high-value natural resources, such as oil, gas, minerals, and lumber, has frequently been identified as a major contributor to the start, escalation, or continuation of conflicts. The management of the geopolitical effects of climate change, particularly the rivalry over enormous tracts of natural resources like oil, natural gas, and minerals, is another facet of resource security.

Resource security includes the use of renewable energy, which has the potential to reduce open disputes over oil and gas. But it might trigger trade conflicts over technology exports. Numerous developing economies will have the chance to surpass fossil fuels as the geopolitics of the energy transformation change. The switch to renewable energy will necessitate a large investment in infrastructure, research, and development, as well as international cooperation.

A key component of wellbeing is economic security, which is correlated with resource security. Planning for and making investments in one’s future and the future of one’s children is made possible by economic stability and some degree of predictability. They promote creativity, strengthen ties with others, and increase confidence in people and institutions. A new global agreement must be founded on the understanding that financial stability is a fundamental human right, a global issue, and thus a shared obligation. In addition to encouraging sustainable development, a global agreement centred on creating economic security will aid in reducing poverty, inequality, and conflict.

In conclusion, the security of natural resources is a crucial issue that concerns all countries. High-value natural resource exploitation has frequently been identified as a major contributor to the start, escalation, or continuation of hostilities. Resource security includes the use of renewable energy, which has the potential to lessen open disputes over oil and gas. A key component of wellbeing is economic security, which is correlated with resource security. In addition to encouraging sustainable development, a new global agreement centred on creating economic security would aid in reducing poverty, inequality, and violence.