The upcoming European regulation aims to accelerate the transition towards a more circular economy, increasing economic security, resilience, competitiveness, and the decarbonization of the EU.
More specifically, the Circular Economy Act aims to establish a single market for secondary raw materials, increase the supply of high-quality recycled materials, and stimulate demand for these materials within the EU, in line with specific recommendations contained in the Letta and Draghi reports.
In this way, the new circular economy act will contribute to the objectives of the Competitiveness Compass and the Clean Industrial Deal, making the EU a world leader in the circular economy sector by 2030 and doubling the EU’s circularity rate.
The Commission’s Public Consultation on the Circular Economy Act
Currently, the Union depends on the import of many raw materials, including critical ones.