Raw Materials Act: companies to reduce risks

Companies are supposed to bear greater responsibility for minimizing risks in the supply chains of critical raw materials in the future. The Critical Raw Materials Act, announced for early March, is supposed to include specifications for appropriate measures, Peter Handley, head of unit for raw materials at DG Grow, said Friday during an online discussion of the planned legislative package. One such requirement could be a duty to diversify, Handley explained: a minimum number of sources from which companies would have to buy their raw materials in the future. In this way, he said, industry should take an active role in risk mitigation and help reduce heavy dependence on individual countries. According to the Commission’s plans, the member states should provide a framework for this. leo