The European Steel Association (EUROFER) reaffirmed on Thursday 16 July, on the eve of the Commission’s presentation of the overhaul of the EU Emissions Trading System (ETS), its support for the EU’s climate neutrality objective by 2050, but said that this can only be achieved if it is adapted to market reality and accompanied by the enabling conditions needed for industrial decarbonisation.
According to Axel Eggert, Director General of EUROFER, if the European steel industry is ready for deep decarbonisation, “the EU and most Member States are not. It is an illusion to think that the steel industry can achieve carbon neutrality by the end of 2033 based solely on the current ETS and CBAM frameworks”. Without affordable clean electricity, hydrogen infrastructure and better access to ferrous scrap, the transition will not be able to take place at the pace envisaged.
EUROFER is calling for a “significantly slower reduction in free allowances for CBAM sectors from 2028 onwards, in particular until 2030/32”.
The revision must also be accompanied by internationally competitive electricity prices of around €50/MWh and affordable renewable hydrogen.
More information: https://aeur.eu/f/mx0 (Original version in French by Solenn Paulic)