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1. Foreign investments, de-risking and the EU’s green transition: Mining critical minerals in Finland

Author:
Elina Sinkkonen and Marco Siddi
Publication Date:
02-2024
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs (FIIA)
Abstract:
The EU is highly dependent on imports of critical and strategic raw materials, both at the extraction and the processing stages. Many of the key supply chains for these materials are dominated by China. In addition, the EU is also dependent on China for many green technologies, such as battery production. The EU’s Critical Raw Materials Act (2023) sets concrete targets for reducing dependencies in the green transition by 2030. Considering both the level of existing dependencies in critical and strategic raw materials and the fact that the Act does not provide any new funding instruments, the feasibility of reaching the set targets is questionable. The Finnish mining sector presents an interesting case that illustrates the scarcity of domestic financing. Most metal ore mines in Finland are owned by foreign companies, and similar trends apply to the refining and recycling of materials. If the EU wishes to mitigate the risks of becoming dependent on authoritarian countries, foreign investments in sectors relevant to the green transition should be subject to investment screening. For example, the Finnish Act on the Screening of Foreign Corporate Acquisitions does not cover greenfield investments such as investments in building battery factories.
Topic:
European Union, Mining, Supply Chains, Green Transition, Raw Materials, Critical Raw Materials (CRM), and De-Risking
Political Geography:
Europe and Finland

2. Russia and Kazakhstan in the global nuclear sector: From uranium mining to energy diplomacy

Author:
Marco Siddi and Kristiina Silvan
Publication Date:
10-2023
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs (FIIA)
Abstract:
Amidst heightened geopolitical competition and low-carbon energy transformations, several states, notably China and countries in the Global South, have decided to invest in nuclear power, seeing it as a secure and low-emission alternative to fossil fuels. Kazakhstan is the world’s largest producer and exporter of unenriched uranium. It has been a reliable supplier to the West for decades, but its nuclear sector is closely linked to Russia’s, which has caused some concern in the European Union and the United States. Russia is a major player in the field thanks to its global exports of enriched uranium and nuclear technology. Its state nuclear company Rosatom has a large portfolio of international customers and numerous projects, mainly outside the West. Russia’s nuclear sector has become an important aspect of its energy diplomacy. While the nuclear sector has not been sanctioned, geopolitical tensions and instability in uranium-producing countries have increased security of supply risks for the West, which relies heavily on imports of both uranium and nuclear fuel.
Topic:
Diplomacy, Mining, Post-Soviet Space, Nuclear Energy, and Energy
Political Geography:
Russia, Eurasia, Kazakhstan, and Asia

3. Europe’s policies for a green transition: The European Commission’s geopolitical turn and its pitfalls

Author:
Marco Siddi
Publication Date:
05-2023
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs (FIIA)
Abstract:
The European Commission has published numerous policy documents concerning the European Green Deal and the energy transition since 2019. Several have an important foreign policy component. Following the Covid-19 crisis and especially Russia’s attack on Ukraine in February 2022, the discourse and policy objectives of these documents have taken a ‘geopolitical turn’, meaning that the EU’s security, interests and cooperation with Western allies have become more prominent than before. The REPowerEU plan, the new External Energy Strategy and the Green Deal Industrial Plan exemplify this shift by combining green and geopolitical objectives. The EU’s geopolitical turn in external energy politics involves several risks. Third countries could perceive some policies as ‘green protectionism’ or ‘green colonialism’. Domestically, some business actors dislike restrictions on imports of critical raw materials and green technology from abroad, whereas additional mining in the EU may not be compatible with biodiversity and environmental protection. At the same time, ‘offshoring’ mining outside the EU may transfer the ecological consequences to contexts with laxer regulation.
Topic:
Geopolitics, European Commission, and Green Transition
Political Geography:
Europe

4. European politics in times of crisis: Developments in Germany, France and Italy, and consequences for the EU

Author:
Marco Siddi, Niklas Helwig, and Tuomas Iso-Markku
Publication Date:
05-2022
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs (FIIA)
Abstract:
The war in Ukraine and the long-term consequences of the Covid-19 pandemic have put the spotlight on important political developments in the three largest EU members, Germany, France and Italy. In Germany, the new coalition government led by Olaf Scholz is trying to adapt the country’s foreign, energy and fiscal policies to the new international scenario, relinquishing some of its long-term tenets. France has just re-elected Emmanuel Macron as President, who is likely to advocate more flexibility in EU fiscal rules and strategic autonomy in foreign, defence and energy policy. Mario Draghi’s government has attempted to steer Italy out of the economic and health crisis and has sought closer cooperation with France. Italy will hold a general election by June 2023, with four parties vying for pre-eminence. In the wake of Brexit, Berlin, Paris and Rome have tried to revive the integration process. In the near future, it is expected that they will continue to drive EU politics, even if sometimes with different priorities, in close consultation with European partners.
Topic:
Politics, Regional Cooperation, European Union, Leadership, and Political Crisis
Political Geography:
Europe, France, Germany, and Italy