Critical raw materials (CRMs) play a crucial role in various industries, including electronics, renewable energy, and automotive. These materials are essential for the production of high-tech products and cutting-edge technologies. We can find this term in IATE defined as “raw material that is of significant economic importance but with a high supply risk”.
Given their importance, ensuring a secure and sustainable supply of CRMs has become a priority for many countries and international institutions, including the European Union. The European Parliament, as one of the key institutions of the EU, has actively engaged in addressing the issue of CRMs by recognising their strategic importance and their impact on the EU’s competitiveness, innovation, and economic growth. It has emphasised the need to diversify sources, reduce dependency, and promote responsible sourcing of CRMs. The Parliament has been actively involved in shaping legislation and policies related to CRMs, aiming to secure a sustainable supply chain within the EU.
One notable initiative of the European Parliament is the EU Raw Materials Initiative, which was launched in 2008 and whose main goal is to ensure a sustainable supply of raw materials for Europe, including CRMs, by fostering resource efficiency, promoting recycling, and reducing waste. The Parliament has been actively engaged in reviewing and supporting the implementation of this initiative, ensuring that it aligns with the EU’s overall objectives.
Additionally, the European Parliament has been instrumental in developing regulations and standards related to CRMs. It has advocated for transparency and responsible sourcing practices to address issues such as human rights violations and environmental impacts associated with CRM extraction and processing. The Parliament has also supported research and development efforts to find alternatives to CRMs and promote the circular economy. Moreover, it has been involved in promoting international cooperation on CRM-related issues. It has collaborated with other international institutions, such as the United Nations and the Organisation for Economic Cooperation and Development, to address common challenges and develop global strategies for sustainable CRM supply.
References
European Comission. (2023, March). European Critical Raw Materials Act. Retrieved from Internal Market, Industry, Entrepreneurship and SMEs: https://single-market-economy.ec.europa.eu/publications/european-critical-raw-materials-act_en
International Energy Agency. (2022, October). The 2020 EU Critical Raw Materials List. Retrieved from Policies: https://www.iea.org/policies/15274-the-2020-eu-critical-raw-materials-list
OECD. (2023, April ). Supply of critical raw materials risks jeopardising the green transition. Retrieved from Newsroom : https://www.oecd.org/newsroom/supply-of-critical-raw-materials-risks-jeopardising-the-green-transition.htm
United Nations Economic Commission for Europe. (n.d.). Critical Raw Materials. Retrieved from Climate Change .
Written by Carmen del Campo Hermida
Born in Madrid, Spain, Carmen holds a Double Degree in Translation and Interpreting and Bachelor in Global Communication. She has also studied a Degree on Content Marketing and Social Media. She has been combining her studies with some part-time jobs, which has allowed her to appreciate little things in life, such as spending time with her family and friends and enjoying her hobbies. She is keen on learning from other people and cultures and wishes to get to travel around the world someday.