Critical Raw Materials (CRMs) is a key policy area for the European Union, as their steady supply – which is foundational for the EU’s numerous aims including the Green Deal and the twin transitions – was challenged by the COVID-19 pandemic and the tense geopolitical climate caused by Russia’s invasion of Ukraine.
With this announcement, the EU’s “Critical Raw Materials Club” which was announced last year, joined the MSP Forum. The forum is comprised by 15 partners in total: the European Union, the United States, and a number of third countries in various states of development, which either possess large resources of some CRMs or have a high demand for them. This follows earlier examples of cooperation between the United states and the EU.
Alongside boosting the participant countries’ projects related to CRMs, the forum also aims to advance CRM policies by dialogue – including policies related to competition, cooperation, transparency, as well as high environmental and social standards. Concrete plans for advancing CRM policy include promotion of sustainable public-private investments, improving reliable supply chains as well as research and development. The forum also proposes to hold workshops related to these policy areas. Members of the MSP Forum aim to expand the initiative by reaching out to additional countries and further policy dialogue.
Numerous CRMs are scarce materials, highlighted in the EuChemS Periodic Table.
