Proposal for the Critical Raw Materials Act: “Good start, now make the Act workable for businesses”

On the proposal for the Critical Raw Materials Act, BusinessEurope Director General Markus J. Beyrer stated: "Good start, now make the Act workable for businesses"

"The proposal is a good start, but further improvements are needed to make the Critical Raw Materials (CRM) Act workable for businesses. Today, Europe is overly dependent on single suppliers for many critical raw materials that are essential for the green and digital transformation of European industries and for a more resilient economy. Proposed measures on permits have potential to accelerate the deployment of projects in Europe.

Now, co-legislators need to make more steps on several fronts to ensure that the CRM Act makes the EU a stronger commodity player. The initiative needs to provide concrete answers for both diversifying our external supplies and increasing our own extractive, processing and recycling capacities. Implementing the goals takes time. This makes it all the more important to not overburden companies. It means to keep new information and disclosure requirements by companies to an absolute minimum.

Trade and business secrets must be fully protected. The EU should ensure that the environmental footprint declaration does not create a negative impact on trade and the security of supply. Because of its direct impact, the industry must be closely involved in the implementation of the CRM Act."