The EU Energy Transition: The Potential Geoeconomic Dependency Shift From Carbon Fuels to Rare Earth Elements.
Open AccessThe EU is seeking to enhance the supply of critical raw materials that will be used for digital, space, and defense applications, as well for industrial and production purposes. The EU Green Deal sets up new conditions for the development of new technologies for the green transition; in order to minimize any risk related to the green technologies’ supply chains, the EU recognizes that the energy transition requires joint efforts and response. If the EU hopes to avoid a shift in energy dependency from Russian fossil fuels to Chinese metals for a future carbon neutral economy, all Member States are required to map out a strategy focused on achieving resources’ diversification. Investments in domestic production is a key component in the green transitions but the effort has to cover multiple priorities and regions of the planet. As the EU commits to a total sustainable growth, it is also attempting to extend policy strategies and investments through international partnerships consolidated through trade agreements and renewed development programs. Indeed, the structural response to climate change assumes zero Greenhouse Gas (GHG) emissions by 2050, as well as economic growth that is decoupled from resource use, while natural capital is protected, sustainably managed, and restored.Research Question:Could the transition to a carbon neutral economy initiate an energy dependency shift for the EU, trading fossil fuels from Russia to critical rare earth elements (REEs) from China?
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