The Critical Raw Materials Club, initially announced by the European Commission, will now integrate fully into the MSP Forum. This integration will enhance a joint initiative associated with the Minerals Security Partnership, with representation from the EU by the European Commission. The Forum aims to unite countries rich in resources with those exhibiting high demand for them.
The MSP Forum's activities will revolve around two main areas:
A project group dedicated to bolstering and expediting the implementation of sustainable critical minerals projects.
A policy dialogue aimed at identifying policies to enhance sustainable production and local capacities, fostering regulatory cooperation to ensure fair competition, transparency, and predictability, and advocating for high environmental, social, and governance (ESG) standards in CRM supply chains.
Membership in the MSP Forum will be available to partners willing to adhere to key MSP principles, including the diversification of global supply chains and adherence to high environmental standards, good governance, and fair working conditions. Demonstrating robust transatlantic collaboration, the EU and the United States will jointly lead this new forum.
Future steps involve outreach by the EU and US, alongside existing MSP partners, to potential members across North and South America, Africa, Asia, and Europe, aiming to broaden participation in the Forum and commence
The MSP Forum builds upon the EU's Critical Raw Materials Package, adopted in March 2023, emphasizing the necessity for more diversified and sustainable CRM supply chains through new international partnerships, such as the CRM Club. Presently, the MSP comprises 15 partners (Australia, Canada, Estonia, Finland, France, Germany, India, Italy, Japan, Norway, the Republic of Korea, Sweden, the United Kingdom, the US, and the EU).
CRMs are vital for a wide range of technologies essential to EU strategic sectors like net-zero industry, digital, space, and defense. While demand for such critical raw materials is at an all-time high and is anticipated to increase further due to green and digital transitions, the supply of CRMs faces escalating geopolitical, environmental, and social risks and challenges.
