Evaluating the potential of Estonia as European REE recycling capital via an environmental social governance risks assessment model

The rare earth elements (REEs) are cornerstone metals of modern society and are used in many applications. Europe is dependant on other continents for the safe supply of rare earth elements as these are to date not mined in Europe. In order to circumvent the shortage of supply, the rare earth elements recycling, especially from End-of-Life (EoL) products are imperative. This article evaluated the feasibility of Estonia as viable REEs recycling hub in Europe via an environmental, social and governance risks evaluation model. The model assessed the pros and cons of Estonia`s environmental, social and governance indicators, and concluded that Estonia is very suitable for the establishment of REEs recycling industry. The environmental indicators showed continuous improvement in environmental health. The Estonian education system is of excellent quality and has produced a highly skilled workforce over the past years. The country's economic indicators are good, management is transparent and business opportunities are diverse. The environmental, social and governance situations show that Estonia mostly meets the prerequisites for the establishment of a rare earth element recycling industry. The existence of such business will increase the quality of the labour force and economic growth in the long term.