EUROFER | Engage

The newsletter of the European Steel Association

EUROFER | Engage

The newsletter of the European Steel Assocation (EUROFER)

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Note from the Director General

Fit for 55 package signals step-change in EU climate policy

The EU Climate Law - recently endorsed by the EU institutions – sets the ambition to reduce emissions by 55% by 2030 compared to 1990 levels and to reach climate neutrality by 2050. This target makes the EU by far the most ambitious major region worldwide in the field of climate policy.

This specific target forms part of the wider European Green Deal, first presented by the Commission in December 2019. This set out a detailed vision to make Europe the first climate-neutral continent by 2050, safeguard biodiversity, establish a circular economy and eliminate pollution, while boosting the competitiveness of European industry and ensuring a just transition for the regions and workers affected.

That political ambition is now to be made whole in a raft of legislation set to formally emerge on 14 July 2021 in the form of the Fit for 55 package, including: the revision of the EU Emissions Trading System (ETS), a Carbon Border Adjustment Mechanism (CBAM), revision of the Energy Tax Directive (ETD), amendments to the Renewable Energy and Energy Efficiency Directives, as well as others on the reduction of methane emissions from the power sector, greenhouse emissions from land use and rules on passenger cars and alternative fuels.

The Fit for 55 package is one of the most significant - and largest - groups of measures the EU has ever released in one go.

The European steel industry supports the objectives of the European Green Deal – and thus understands and supports the rationale behind the Great Leap of the Fit for 55 package – as long as it proves to be a strategy for growth: with effective carbon leakage protection, support for low carbon technologies (through de-risking instruments like carbon contracts for difference), demand-side measures to create markets for green steel, and affordable, low-carbon energy,.

Our sector already had the ambition to reduce CO2 emissions by 30% by 2030 compared to 2018 levels (which is the same as -55% compared to 1990). This reduction can only be achieved if the large number of advanced decarbonisation projects led by European steel companies – over 100 across Europe – are covered by a robust and supportive EU framework.

With the new, more ambitious EU climate target and increasing carbon price, it is ever more essential to prevent carbon leakage effectively.

EUROFER will be working hard to ensure that the best possible framework is created out of Fit for 55, ensuring that European steel can continue to be competitive during its transition to the green and sustainable future.


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Latest updates from the European Steel Association

Joint statement: Energy-intensive industries should be at the heart of the Green Deal Industrial Plan

Joint statement
03 February 2023
01 February 2023 - Energy-intensive industries (EIIs) provide direct employment to around 2.6 million people and represent the foundations of critical and strategic value chains for the EU economy and society....

Press release: 2022 negative trends deepen despite economic resilience, steel demand to contract also in 2023

Brussels, 02 February 2023 – All downside factors that have materialised in the first half of last year have persisted, continuing to impact the European steel market. Apparent steel consumption is forecast to see a deeper-than-expected drop of -4.6% for 2022 (previously set at -3.5%). The outlook for 2023 also remains negative (-1.6%), paving the way for the fourth steel demand recession in five years. A modest recovery will be in sight in 2024 (+1.6%), though subject to high uncertainty. Despite a more general resilience of the EU economy, in the third quarter of 2022 apparent steel consumption reached its lowest level after the pandemic.
02 February 2023
“We are witnessing what we have been warning against in the past months: energy crisis, inflation, supply chain issues, unparalleled decarbonisation costs combined with massive cheap imports from third countries, are a toxic cocktail for industry....

Economic and market outlook: Economic and steel market outlook 2023-2024, first quarter

First quarter 2023 report. Data up to, and including, third quarter 2022
02 February 2023
The picture emerging from the data of the third quarter of 2022 confirms and deepens the negative trends observed in the second quarter of 2022....

Press release: Green steel as key driver to Net-zero industry: the EU must adopt and implement a value chain approach if clean tech investment is to stay in Europe, says EUROFER

Brussels, 01 February 2023 – The foundations of the Net-zero Age are made of steel, from wind turbines to electric vehicles. Steel is essential to make these clean tech value chains circular and carbon neutral. This is why the new EU Industrial Plan must have an overall vision, while its implementation will be crucial to adopt a value chain approach focusing on all key upstream and downstream sectors that are indispensable for reaching the EU’s climate and circular economy objectives. Competitiveness will be key to attract clean investment in the EU as the Inflation Reduction Act will do in the U.S., says the European Steel Association following the Commission Communication on the Green Deal Industrial Plan.
01 February 2023
“The IRA shows that it is possible to have a proactive, structural, carbon-neutral industrial policy centred on incentives and industrial competitiveness, rather than relying primarily on obligations and targets complemented only by piecemeal, uncertain support”, said Axel Eggert, Director General of the European Steel Association (EUROFER)....

Joint press release: Ensuring access to critical materials for steel and wind sectors essential for EU clean-tech economy

Joint press release by WindEurope and Eurofer
26 January 2023
Brussels, 26 January 2023 - The European wind industry and the European steel industry play a key role in enabling Europe’s clean tech economy....

Press release: EP vote is step in the right direction, but more efforts needed to ensure watertight environmental and social standards in waste shipments to third countries, says EUROFER

Brussels, 17 January 2023 – The revision of the Waste Shipment Regulation adopted by the European Parliament in today’s plenary vote is a welcome step towards a more sustainable approach in waste exports to third countries. Still, it remains urgent to close some critical loopholes to avoid circumvention of the new measures and ensure watertight environmental and social standards equivalent to those of the EU, urges the European Steel Association (EUROFER).
17 January 2023
“The text approved today is a clear improvement compared to the initial Commission proposal....

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