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illuminem summarises for you the essential news of the day. Read the full piece on France 24 or enjoy below:
🗞️ Driving the news: The European Union has unveiled a comprehensive plan to reduce its reliance on China for critical raw materials essential for green and digital technologies
• The strategy includes initiatives to extract, process, and recycle more raw materials within Europe
• Efforts to diversify overseas suppliers are also a key component of the plan
🔭 The context: The EU's dependence on China for materials like rare earth elements has raised concerns about supply chain vulnerabilities
• The COVID-19 pandemic and geopolitical tensions have highlighted the risks of over-reliance on a single supplier
• Developing domestic capacities aims to enhance the EU's strategic autonomy in critical sectors
🌍 Why it matters for the planet: Securing a stable supply of critical raw materials is vital for the EU's transition to renewable energy and digital technologies
• These materials are essential for manufacturing wind turbines, solar panels, and batteries for electric vehicles
• Reducing dependency on external sources supports sustainable development and environmental goals
⏭️ What's next: The EU plans to implement measures to streamline permitting processes and provide financial support for projects related to critical raw materials
• Collaboration with international partners will be pursued to diversify supply chains
• The EU aims to establish a more resilient and sustainable framework for sourcing and utilizing these essential materials
💬 One quote: "The EU plan is made up of different elements: extracting, processing and recycling more raw materials in Europe; diversifying overseas suppliers..." — France 24
📈 One stat: The EU currently depends on China for approximately 98% of its rare earth elements supply
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