Brussels, 06/10/2014 (Agence Europe) - No fewer than 60 CEOs from European steel companies have recently upped the ante with regard to the EU's climate goals. In an open letter dated Monday 6 October and addressed to the presidents of the European institutions and 28 heads of member states, major steel bosses such as Adtiya Mittal, for ArcelorMittal Europe and Andreas J. Goss, for ThyssenKrupp Steel Europe Ag, have called on the next EU climate summit not to increase taxes on CO2 emissions from European industries operating at a global level.
In view of the forthcoming summit on 23-24 October, European CEOs state, “Is it asking too much that at least the most CO2 efficient manufacturers in Europe must have no competitive disadvantage from EU climate policies vis-à-vis their global competitors?” The European steel industry is afraid that without safeguards, the European Trading System (ETS) will cost them €70-100 billion from 2020 over the following decade. Current measures for protecting this industry end in less than six years' time and even the cleanest plants (-75% of emissions) will no longer have the right to free quotas. The steel industry is also complaining about electricity costs, which are twice as high in Europe than in the rest of the world. The CEOs back up their appeal by pointing out that 4 million jobs are directly at stake, as well as many others indirectly. (MD)