Source: European Parliament
The Commission is supporting the sustainable development of critical raw material value chains, aligned with its commitment to achieving the Sustainable Development Goals.
The EU-Argentina memorandum of understanding[1] and roadmap of activities aim to advance sustainable critical raw materials (CRM) value chains by emphasising environmental, social and governance standards.
Additionally, the Commission promotes civil society engagement and transparency through initiatives such as the Responsible Business Conduct[2] in Latin America and the Caribbean programme.
The Commission has also launched a project[3] that will utilise Copernicus data to monitor environmental implications of lithium operations in salt flats.
A working group on CRM has been established, bringing together companies, financial institutions, and Member States. A pipeline of projects with EU interest is being developed.
The selection criteria for such projects include sustainability. Environmental and socially adverse impacts need to be minimised and prevented, and human and indigenous people’s rights need to be respected. No funding agreements have been signed yet.
The Commission is finalising a study aimed at gathering first-hand information on civil society’s needs in Argentina’s lithium-mining regions.
This assessment will guide further EU engagement and support EU investments in Argentina’s critical raw materials sector, ensuring they respect ecosystems, local rights, and the well-being of local communities and indigenous people.
Finally, financing institutions funding projects are subject to due diligence in line with international and EU standards.
- [1] https://single-market-economy.ec.europa.eu/publications/memorandum-understanding-eu-argentina-sustainable-raw-materials_en
- [2] https://www.ohchr.org/en/special-procedures/wg-business/joint-project-responsible-business-conduct-latin-america-and-caribbean
- [3] https://www.copernicuslac-chile.eu/en/noticia/chile-european-union-launch-monitoring-system-andean-salt-flats-south-america/