EU and Greenland sign strategic partnership on sustainable raw materials value chains

Yesterday in Brussels, the EU signed a Memorandum of Understanding (MoU) with the Government of Greenland for a strategic partnership to develop sustainable raw materials value chains.

Executive Vice-President for the European Green Deal, Interinstitutional Relations and Foresight of the European Commission, Maroš Šefčovič, signed the MoU with the Government of Greenland, Minister of Business, Trade, Mineral Resources, Justice and Gender Equality, Naaja H. Nathanielsen.

Greenland’s extensive natural riches are a major asset for reaping the benefits of global value chains, as it seeks to diversify its economy in a sustainable way. 25 of the 34 critical raw materials identified by the Commission as strategically important for Europe’s industry and the green transition can be found in Greenland.

Following the signature of the MoU, the EU and Greenland will jointly develop a roadmap with concrete actions to put the Strategic Partnership into practice.

The partnership signed today offers benefits to both parties. It ensures that Greenland’s resources serve to underpin sustainable, fair and inclusive socioeconomic development following the strictest ESG standards. It simultaneously enables the EU to deliver on its ambitious Green Deal, empowering the green and digital transitions in both regions.

Maroš Šefčovič, Executive Vice-President for European Green deal, Interinstitutional Relations and Foresight said: “This strategic partnership will be of great benefit to both sides. It will enable us to work together in developing resources sustainably, responsibly and with public support, while encouraging investments in the sector. And it will help diversify Greenland’s economy, creating jobs, opening new opportunities for local businesses, and driving sustainable economic growth.”