Missing in Action? Europe’s Mineral Finance Approach - CleanTechnica

The article from CleanTechnica discusses Europe’s current challenges and shortcomings in financing critical mineral projects essential for the clean energy transition. Despite multiple EU initiatives aimed at securing resilient supply chains for raw materials like battery metals, Europe lags significantly behind global competitors, particularly China, which has invested over USD 15 billion in such projects since 2020. In contrast, EU companies have invested only USD 1.7 billion, all in Argentina. A key issue identified is the fragmented and limited role of European Export Credit Agencies (ECAs) in supporting extractive projects, especially compared to coordinated, whole-of-government approaches seen in countries like China, the US, and Canada. The EU lacks a strategic mechanism to deploy its substantial financing capacity (over EUR 100 billion) effectively and cohesively. The article highlights concerns about the current standards governing ECAs, noting gaps in due diligence, monitoring, disclosure, and grievance handling, which result in inconsistent and often minimal transparency regarding supported projects. This undermines efforts