, low yields make reclamation unprofitable. More research is needed on driving down costs and stabilizing markets.
Other funding routes are needed to build up a global REEs circular economy. Climate funds, such as the Green Climate Fund established within the UN Framework Convention on Climate Change to assist low- and middle-income countries in adaptation and mitigation to counter climate change, could funnel some investments to REEs recovery, particularly in the transport and digital sectors.
Infrastructure to help trace amounts of REEs at individual product levels would boost secondary markets and circular-economy practices in the long run. Currently, REE trace ingredients are not even listed in the bill-of-materials for products. Research on traceability, for example using blockchain technology — a distributed data-management system — would improve the management of REE product flows. Open-access or blockchain-supported databases for tracking REE product flows will also be needed.
Global collaboration might not be as difficult as imagined, in this era of reshoring and domestic focus. Some countries might find it attractive to stop smuggled REEs coming in and to add value to global industrial networks. Collaboration between China, the EU, the United States and other nations could be fostered by constructing an international REE database with forecasts, developing fair trade of REEs and other standards.
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