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Greece’s actions on the critical minerals sector

Deputy Minister of Environment and Energy, Alexandra Sdoukou, presented the plan of Greece’s action framework regarding the development of the domestic industry of critical minerals at the High Level Conference of the International Energy Organization (IEO) on Critical Mineral Raw Materials, which focused on covering the strong demand.

Sdoukou pointed out that “the Ministry of Environment and Energy is preparing targeted reforms, which include the recognition of areas with critical raw materials, the reduction of licensing time and bureaucracy, the inclusion of the benefits of local societies, while respecting the European environmental protection standards.”

She added that “we consulted with the interested parties who agree that the uncertainty of the regulatory environment and the lack of sufficient funding are the biggest obstacles and for this reason it makes sense to create a single database, licensing and co-financing from European programs for investors.”

Conference participants underlined that in the face of severe disruptions in global energy markets, Europe needs to increase funding to support a smooth transition and position itself among other industries in the new energy economy. Given the huge investments required, it was highlighted that it is important to pave the way for better access to finance, including steps to create a green Capital Markets Union, which will help finance the clean energy transition.