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Position paper - Critical Raw Materials
The European Commission’s proposal for the Critical Raw Materials (CRM) Act will be essential for the functioning of the EU’s Green Deal Industrial Plan and the green and digital transitions. CRMs are critical components of the transportation, energy and digital economy sectors, among others, but they are often in short supply and/or regionally concentrated in third countries. To increase and diversify the supply of CRMs in the EU, policymakers should not only bolster domestic supply by streamlining permitting procedures and increasing access to project financing cooperation with likeminded partners and multiple resource vironmental, social and governance but should also pursue international rich countries that share the EU’s values. EU CRM sourcing should be in line with applicable circular economy, product design and en standards. The CRM Act should also look to the future by ensuring regulatory certainty and creating a process for the identification and notification of new CRMs.