At the end of November 2023, the EU and Greenland agreed to a new Memorandum of Understanding (MoU) within the framework of a Commission Implementing Decision on the financing of the annual action plan in favour of Greenland for 2023.
The MoU covers the following five areas:
- Economic and industrial integration of value chains for critical raw materials and other raw materials.
- Cooperation to leverage high international environmental, social and governance (ESG) standards.
- Deployment of infrastructure required for the development of raw material value chains.
- Strengthening of capacities and skills development along raw materials value chains.
- Cooperation on research and innovation.
This action will broaden EU-Greenland cooperation in various way to diversify Greenland’s economy for the benefit of its socio-economic development.
It will support pioneering approaches to capitalise on clean energy, where Greenland’s unique hydropower potential in the mid- or long-term perspective be used to make the territory a relevant producer and exporter of clean fuels such as hydrogen and ammonia. Greenland has important deposits of Critical Raw Materials that are crucial for the green transition and this action will support the EU-Greenland partnership in the environmentally responsible creation of CRM value chains. It will also enhance Greenland’s capacity to coordinate research activities and contribute to the protection of Greenland’s biodiversity. Extensive research activity in Greenland, often by external stakeholders (notably on climate, environment, and natural resources), requires a more effective steer and coordination by local institutions to better reap the benefits of knowledge for its society and the global scientific community.
For more on the association of Greenland to the EU, and the MoU of November 2023, see here.