Eurometaux | Joint Climate Finance Letter - Europe's Raw materials and battery value chain

In a letter addressed to EU leaders, including President Von der Leyen and Commissioner Breton, companeis from the EU raw materials and battery value chain express appreciation for the European Commission's €3 billion Innovation Fund mechanism for the battery value chain. However, they voice serious concerns about the Council's proposal to reduce the STEP fund from €10 billion to €1.5 billion and cut Horizon Europe funding by €2.1 billion.

The companies stress the critical two-year period ahead, citing an accelerating competitiveness gap and the need for a compelling domestic business case to prevent investment leakage. They urge a reconsideration of the proposed cuts, emphasizing the importance of climate finance as a top European priority to secure long-term climate leadership.

The signatories, including Eurometaux, RECHARGE, and Transport & Environment, commit to working with EU leaders to achieve common raw material and battery goals in a resilient and sustainable manner, aiming for Europe to become a global clean tech and supply chain leader.