The growing dependence of society on rare earth elements poses a challenge to achieving a just low-carbon transition globally. While circular economy strategies have gained attention, their specific impacts remain unmeasured. Here, we present an integrated model that quantifies how circular economy strategies can reshape global supply chains of the critical rare earth elements -neodymium, praseodymium, dysprosium, and terbium. The model considers both in-ground and in-use stocks from across 10 regions from 2021 to 2050. The projections include the full deployment of three widely-accepted climate scenarios. We find a considerable mismatch between in-ground stocks, supply and demand at specific region and element levels, with the mismatch for heavy rare earth elements a key obstacle for achieving net-zero emission targets. We suggest that, as in-ground stocks decline among mineral suppliers, the accumulation of in-use stocks in consuming regions can foster a more balanced and less polarized geopolitical landscape for rare earth elements. We estimate that circular economy strategies can lead to an increase of 701 kt secondary supply and a decrease of 2,306 kt demand within the next three decades. Implementing these circular economy strategies will require international cooperation in the governance of rare earth elements amid sustainable transition.3 Climate change is a common challenge for the entire world, which requires efforts from nearly all nations for a just low-carbon transition 1,2 . However, the supply of rare earth elements (REEs), especially neodymium (Nd), praseodymium (Pr), dysprosium (Dy), and terbium (Tb), as critical raw materials of clean technologies (e.g., electric vehicle (EV), wind power, etc.), are highly concentrated in a few countries [3][4][5][6] . This has sparked "anxiety" about supply security and trade friction, such as in the United States (US) 7 and the European Union (EU) 8 . Furthermore, the uneven distribution of REEs is widely concerned as it may intensify international competition and geopolitical risks, and further impede global climate goals, as noted by some international organizations 9-11 and others 12,13 . To facilitate the transition towards a climate-safe future, it is essential to develop effective strategies for ensuring the stability of global REE supply chains.Unlike fossil fuels, which are "burnt out" and permanently lost once consumed, REEs 14 and other metals are accumulated as in-use stocks that can be "recovered" as alternative supply 15,16 . Given that massive REEs transfer from in-ground stocks (deposits) to in-use stocks (products), there are growing interests in extracting the in-use stocks as secondary supplies 17 . Circular economy (CE) strategies, which have been proposed to reduce supply issues across various critical materials such as cobalt, lithium, etc. 18,19 , can also be applied to the REEs 6,20,21 . Despite various recent attention 5 , the potentials of rare earth (RE) circularity in promoting just low-carbon transition remain uncertain due to li...