The European Union has been criticized for its lack of focus on critical raw materials, according to a report released by the European Court of Auditors in early February. This special report titled 'Critical Raw Materials for Energy Transformation – Policy is Not Set in Stone' emphasizes the importance of these materials not only for new technologies but also for the foundational machinery and equipment required for the production, transfer, and distribution of electricity, which is essential to replace fossil fuel energy consumption with predominantly renewable sources.

Although critical raw materials are often associated with renewable energy technologies such as solar panels, wind turbines, or battery storage, the report argues that the transmission and distribution of electricity are more critical for the safety and stability of the energy system than the production sources themselves. This means that infrastructure like cables, power lines, and transformers plays a vital role in maintaining energy supply. Consequently, the report calls for a reassessment of the EU's strategies surrounding these essential materials, pushing for enhanced recycling and domestic processing.

The implications of this report are significant, as it underlines the EU’s dependency on foreign sources for essential materials that are critical for a sustainable energy future. Without owning mines or processing facilities, and with a majority of these materials being unrecycled, the EU faces challenges in securing a stable and sustainable energy transition. As global demand for renewable energy technologies grows, the EU must develop strategies to ensure a more self-sufficient approach to critical raw materials, which could also bolster its economic resilience against geopolitical uncertainties.