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EU Critical Raw Materials Act: “Successful balance between political and corporate responsibility“

Date

16 Mar 2023

VDMA Executive Director Thilo Brodtmann comments the EU Commission's proposal on the "Critical Raw Materials Act" (CRMA):  

"In the new legislative proposal on critical raw materials, the EU Commission fortunately refrains from profound interventions in corporate decisions and apparently refrains from direct diversification obligations or stockpiling requirements for companies. The German government should follow this in its national implementation and not add any additional hurdles. It is also good that the EU Commission has recognised the strategic importance of raw materials and is taking action. It is now important that the EU institutions reach an agreement quickly so that concrete projects can start.

 The triad of promoting raw material extraction, processing and recycling, as envisaged in the proposal, is the right one. In the sustainable implementation of the CRMA, the EU can rely on the know-how of the European machinery and equipment manufacturing industry - especially when it comes to the environmentally friendly extraction of raw materials in the EU and worldwide or when it comes to fair partnership projects with third countries. The companies organised in the VDMA bring extensive expertise and networks in the field of sustainable mining and efficient recycling. In implementing the CRMA and setting up the strategic projects, policymakers should therefore work closely with European companies."

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