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NZIA and CRMA
March 24 , 2023
393 days
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- The European Union (EU) has recently announced two major legislations.
- They are the Net Zero Industry Act (NZIA) and the Critical Raw Materials Act (CRMA).
- The NZIA aims to meet at least 40 per cent of the EU’s green technology needs through domestic manufacturing by 2030.
- Eight technologies are identified as “strategic net zero technologies”.
- The CRMA aims reduce the EU’s reliance on imports of critical raw materials by setting goals for their extraction, processing, and recycling within the EU.
- The expected reduction level is, at least 10 per cent of the EU’s annual consumption for extraction, 40 per cent for processing, and 15 per cent for recycling by 2030.
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