EU Proposes Critical Raw Materials Act And Net Zero Industry Act

On March 16, 2023, the European Commission published its proposal for a Regulation establishing a framework for ensuring a secure and sustainable supply of critical raw materials ("Critical Raw Materials Act" or "CRMA"). The proposal sets out a number of actions aiming to ensure the EU's access to a secure, diversified and sustainable supply of critical raw materials, which are essential for the EU's strategic sectors, including its green and digital industries, aerospace, and defense sectors.

Of note, the CRMA is yet another proposed EU measure that is likely to impact supply chain due diligence, such as, for instance, the proposed Corporate Sustainability Due Diligence Directive ("CSDDD"), or the proposed EU Forced Labour Regulation ("FLR")