A recent UN report has underscored the necessity for reformation in the financing of critical minerals, stressing the importance of aligning such funding with environmental and social objectives. The report emphasizes that without this alignment, the energy transition may perpetuate the negative impacts of the fossil fuel era. This is significant in light of the growing demand for transition metals like cobalt, and the associated environmental and social concerns related to their mining. The call for finance reform is crucial in mitigating the potential adverse consequences of transitioning to renewable energy sources, ensuring that the production of critical minerals does not compromise the environment or human rights.