Critical raw materials partner Canada: An (almost) perfect match. The European-Canadian raw materials partnership in times of friendshoring

Inga Carry

No 29/2024, SWP Comments from Stiftung Wissenschaft und Politik (SWP), German Institute for International and Security Affairs

Abstract: The European Union (EU) is aiming to strengthen its cooperation with like-minded countries to secure its supply of so-called critical raw materials. European Commission President Ursula von der Leyen considers Canada a "perfect match" - a resource-rich and reliable partner that shares the EU's geopolitical interests and sustainability goals. Canada is seeking to diversify its supply chains and counteract the influence of Chinese actors in its mining industry through a policy of friendshoring. To this end, the Canadian government has shown itself to be far more open to cooperation with the EU regarding raw material supply chains and key industries compared to the United States (US) government. It would be beneficial for both sides to deepen this cooperation. However, to truly make this partnership a perfect match, the EU should offer stronger financial incentives for the integration of European and Canadian industries, promote scientific exchange and technical collaboration, and advocate for robust corporate due diligence in supply chains.

Keywords: Kritische Rohstoffe; Strategische Rohstoffe; Lithium; Graphit; Nickel; Kobalt; Kupfer; Seltene Erden; Kathodenaktivmaterial; CAD; Critical Raw Materials Act; CRMA; Manitoba; Saskatoon; Saskatchewan; Yukon; Ring of Fire; ESG; ESG+1; Mineral Security Partnership; MSP; Benefits-Sharing Framework; EU Corporate Sustainability Due Diligence Directive; CSDDD; Canada; EU; European-Canadian raw materials partnership; raw material supply chains; Critical Raw Materials Act; CRMA; Canada's critical raw materials strategy; mineral and metallic raw materials; rare earth elements; REE; mining industry; decoupling; ESG; sustainability standards; Indigenous peoples (search for similar items in EconPapers)
Date: 2024
New Economics Papers: this item is included in nep-ene, nep-eur and nep-int
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:swpcom:300625

DOI: 10.18449/2024C29

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