United Kingdom watchdog proposes not classifying key battery material as toxic

illuminem summarizes for you the essential news of the day. Read the full piece on The Financial Times enjoy below

🗞️ Driving the news: The UK's safety regulator, the Health and Safety Executive (HSE), suggests not labeling lithium chemicals as “toxic”, a move that might support investments in the country’s electric vehicle (EV) supply chain
• This decision might cause the UK to diverge from EU regulations on the matter

🔭 The context: Lithium, vital for electric car batteries, is seeing global governments incentivizing its mining and processing
• While the European Chemicals Agency (ECHA) recommended the classification of three lithium compounds as “reproductive toxicants” last year, the HSE has expressed reservations about following suit

🌎 Why does it matter for the planet: As the world pivots to green energy, lithium regulations have far-reaching effects
• Such decisions can steer investments and mold the global electric car industry's future

⏭️ What's next: The UK government will make the final decision on HSE’s proposal
• Should the UK abstain from labeling lithium as toxic, it may benefit future UK-based lithium refineries by offering them cost and regulatory advantages over their European peers

💬 One quote: ”The reduced regulatory ambiguity in the UK can only help in luring investments for lithium mining and refining” (Roland Chavasse, from the International Lithium Association)

📈 One stat: By 2030, the UK’s electric vehicle production might require lithium valued nearly $1 billion, compared to Europe’s projected $13.4 billion, according to CRU Group

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