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14 Nov, 2023

Critical Raw Materials Act a boost to twin transitions

Renew Europe welcomed the interinstitutional agreement on the Critical Raw Materials Act reached on 13 November.

The Act aims to pursue the twin green and digital transitions and ensure the European Union’s open strategic autonomy by tackling its access to secure, diversified, affordable and sustainable supplies.

The final agreement strengthens EU resilience, reduces dependencies on materials used for strategic technologies and, crucially, lays strong foundations to accelerate towards more EU sovereignty and competitiveness amid the current geopolitical upheavals.

"The agreement, which has been reached in record time, is an industrial policy blueprint for a secure and sustainable supply of raw materials in Europe,” said Nicola Beer MEP (FDP, DE), Vice-President of the European Parliament and Rapporteur on the Critical Raw Materials Act.

“The European Parliament has successfully pushed for fewer reporting requirements, especially for SMEs, and more European raw materials projects in Europe. With targeted economic incentives, we are creating project-planning certainty for private investors - through single points of contact for companies and fast and simple authorisation procedures with clear deadlines for national authorities. This will boost mining, processing and recycling in Europe.”

“At the same time, we are stimulating research and innovation along the entire value chain. A framework for strategic partnerships on raw materials with third countries on equal terms will also make the EU an attractive partner in geopolitical competition - with real benefits for both sides and strong protection for local communities and nature.”

“With a clear signature from the EU Parliament, the course has been set for Europe's open, economic and geopolitical sovereignty", she added.

Photo: Nicola Beer / Renew Europe

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