The EU and the Government of Greenland have signed a Memorandum of Understanding for a strategic partnership to secure sustainable raw materials value chains.

Maroš Šefčovič, Vice-President for the European Green Deal, Inter-institutional Relations and Foresight of the European Commission, and Government of Greenland, Minister of Business, Trade, Mineral Resources, Justice and Gender Equality, Naaja H Nathanielsen, have signed the MoU to establish raw materials value chains between the EU and Greenland.

Greenland’s natural resources are a major asset to global value chains, as the country aims to sustainably diversify its economy. In Greenland, 25 of the 34 critical raw materials identified by the European Commission as strategically important can be found.

The MoU will help to develop sustainable projects along raw materials value chains. The partnership between the EU and Greenland will also aid the deployment of infrastructure required to develop them.

Integration of value chains for critical raw materials and other raw materials

This includes developing projects collaboratively, networking, creating new business models, and ensuring the resilience of these value chains.

Leveraging high ESG standards

Adhering to high ESG standards will help to ensure that Greenland’s minerals sector is a lever for economic growth with local value creation.

Minerals must be explored sustainably and in close dialogue with the Greenlandic society. The unique nature of Greenland’s lands must be taken into account with high ESG standards outlining legislation and best practices.

Developing infrastructure required for raw material value chains

The strategic partnership between the EU and Greenland will ensure that the specificities of Greenland’s transport and energy infrastructure needs are considered.

Skills development along value chains

Developing skills at all levels in the raw materials industry and wider society must be considered.

Co-operation on research and innovation

The EU and Greenland will share knowledge and technologies related to sustainable exploration, extraction, processing, and refining of raw materials.

Greenland is eligible for participation in the EU Framework Programme for Research and Innovation. Earth Observation Data and Copernicus present promising opportunities with relevance for mineral exploration, such as mapping of deposits and monitoring environmental impacts.

Next steps for the partnership

Following the signature of the MoU, the EU and Greenland will now develop a roadmap with firm actions to put the strategic partnership into practice.

Source: Innovation News Network