EU Climate Change Policies and New Regulations
The EU Climate Law writes into law the goal set out in the European Green Deal for Europe’s economy and society to become climate-neutral by 2050. The law also sets the intermediate target of reducing greenhouse gas emissions by at least 55% by 2030, compared with 1990 levels.
One outcome of the Green Deal is the announced ban on new petrol and diesel vehicles by 2035. This has accelerated the introduction of EVs by the automobile manufacturers together with massive investment in “Gigafactories” to produce batteries and recharging infrastructure throughout the EU.
Recognizing the importance of securing raw materials to support these changes from reliable and ethical sources, the EU Critical Raw Materials Act (CRMA) was announced in February 2023. The CRMA lists 16 “Critical Minerals” that are fundamental for the EU’s objectives and mandates for 10% of critical minerals to be produced within the EU by 2030.
“…we need to secure the volumes needed for raw materials. For that, we will
propose a Critical Raw Materials Act. Its aim is to facilitate the extracting, the
processing but also the recycling in the European Union…”
President von der Leyen on the Green Deal Industrial Plan, February 2023