Exultation on The Critical Raw Mineral Act (CRMA) Act passed by the European Parliament. Europe can play a vital role in the processing of the Critical Minerals much needed for energy transformation.
Exciting news: The Critical Raw Materials Act (CRMA) was finally greenlit by the European Parliament this week. EIT RawMaterials wholeheartedly endorses this groundbreaking act, which marks a pivotal leap towards securing Europe's access to critical raw materials and a sustainable supply chain. The Act outlines 34 critical materials, 16 labelled 'strategic,' aiming for ambitious EU contributions—10% extraction, 40% processing, and 25% recycling. On the global stage, diversifying our imports is paramount, ensuring that not more than 65% of the Union’s consumption of each strategic raw material comes from a single third country. The Act also aims to fast-track strategic projects across the value chains while emphasising strong ESG standards and community engagement. EIT RawMaterials, who manages European Raw Materials Alliance (ERMA), is actively involved in identifying and discussing strategic projects at the highest level across the value chain. Our dedication to ensuring the CRMA's success encompasses innovation, education, and circular economy strategies, supported by a diverse portfolio and collaborative investor relationships. However, stimulating the highest levels of investment is still a fundamental need. To address this, we have successfully identified 20 billion euros of qualified investment cases and are intensively collaborating with the investor community to step up investments urgently. Bernd Schäfer Schäfer, CEO & Managing Director of EIT RawMaterials, remarks: 'The Critical Raw Materials Act is a leap towards European self-reliance and sustainability. It not only strives to safeguard our supply chains but also reaffirms our commitment to the environment and future generations.” Let’s seize the momentum! More here https://lnkd.in/ezMg7y9b #CRMAct #CriticalRawMaterialsAct #Sustainability #EuropeanParliament
