Eurochambres position on the European Commission Proposal for a Critical Raw Materials Act
The European chamber network is committed to sustainable and responsible economic activity that is in line with the European Green Deal, yet business must have sufficient access to the raw materials needed to make the transition a success. We therefore support the European Commission’s effort to secure the security of supply through the Critical Raw Materials Act, yet further improvements must be made to it, in order to maximize its potential for the EU’s private sector.
The EU Commission’s proposal for a Critical Raw Materials Act is a welcome and needed step towards enhancing the security of supply of critical raw materials in times when demand is exponentially rising as the European and global economy are making a transition to a low carbon economy. While an acceleration and de-bureaucratization of strategic projects for the sourcing of raw materials both in the EU and third countries is very welcome, the proposal does have some shortcomings in terms of scope, or the additional burdens imposed on companies in terms of reporting and monitoring obligations, that is still hindering its full effectiveness for European companies.
Why chamber network considers the EC proposal for a Critical Raw Material Act relevant
European business is fully committed to sustainability and the green transition, and the Chamber network is actively supporting countless companies across the EU in the transformation to a low carbon economy. However, for the green transition to succeed, European companies need access to affordable and reliable sources of supply of raw materials, making the EU’s Critical Raw Materials Act a significant piece of legislation for our members and the companies they represent.