Batteries: EU partners with Norway to develop sustainable value chains
On March 21st, 2024, during the Eurosummit, the EU signed a Memorandum of Understanding with the Kingdom of Norway for the establishment of sustainable battery and raw materials value chains. This is the kick-start of a long-term cooperation between the two parts in a sector which, lately, has acquired great strategic importance.
The collaboration concerning raw materials and batteries serves as a foundational element of the EU-Norway Green Alliance, which was established in April 2023. Its aim is to reinforce collective endeavors in climate action, environmental preservation, and cooperation regarding clean energy and industrial transformations; it will support the development of sustainable supply chains between both sides, while enabling furthering environmental, social and governance standards as well as exchange of knowledge on raw materials.
Norway stands as a great source of mineral wealth, boasting an abundance of rare earths, magnesium, titanium, vanadium, phosphate rock, and an array of other valuable resource