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 crisis. Need for more immediate and efficient measures

Statement by energy intensive industries ahead of the extraordinary Energy Council of 30/09
29 September 2022
The energy intensive industries welcome the efforts undertaken by the Member States to solve the energy crisis in the European Union....

Press release: Swifter and more effective EU emergency measures needed to address the energy crisis and to preserve the European steel industry

Brussels, 15 September 2022 – The emergency measures presented yesterday by the European Commission are not ambitious nor swift enough to bring down energy prices and to preserve millions of jobs in industrial sectors such as steel that are exposed to fierce global competition. Emergency situations require emergency measures also for industry, warns the European Steel Association.
15 September 2022
“The Commission proposals show limited ambition and scope, as they will not reduce energy prices and costs for the steel industry towards a sustainable level which would keep the sector competitive....

Joint statement: Energy measures. Lack of sense of urgency

Joint statement by energy intensive industries on the outcome of the extraordinary EU Energy Council and ahead of the State of the Union
13 September 2022
Brussels, 13 September 2022 - In its meeting of the 9th of September, the Energy Council acknowledged the pressure put by the increase in electricity and gas prices on inflation and the EU economy, therewith threatening the competitiveness of European companies....

Press release: Emergency EU measures immediately needed to overcome life-threatening energy crisis for European steel industry

Brussels, 09 September 2022 – On the occasion of the extraordinary Energy Council, the European steel industry calls on EU policymakers to provide immediate relief against high energy prices and costs also for energy-intensive industries exposed to international competition. Conventional trade and energy policy measures are clearly insufficient and would seriously put at risk of survival these sectors, which are the backbone of the EU’s value chains.
09 September 2022
“The current gas and electricity prices threaten the viability of steelmaking in Europe, while third country producers not subject to such constraints or whose governments do not take similar action against the Russian aggression take advantage of the situation by exporting massively to the EU at distorted prices....

Joint letter: EU gas and electricity prices. Urgent EU actions are needed

Joint letter by energy intensive industries to European Commission President von der Leyen and the Czech Presidency
06 September 2022
The undersigned energy intensive industries are representatives of a fundamental part of the European economy which is severely impacted by the ongoing energy crisis....

Press release: Gloomier outlook consolidates for 2022 as uncertainty continues to drag on growth

Brussels, 24 August 2022 – The performance of the first quarter of 2022 confirms a marked slowdown in the positive trend observed in 2021, reinforcing bleaker prospects for the rest of the year. Apparent steel consumption is expected to experience its third recession in just four years (-1.7%), while the evolution of steel demand remains subject to high uncertainty fuelled by the ongoing energy crisis, inflation, supply chain disruptions and Russia’s war in Ukraine. Import penetration has remained considerably high.
24 August 2022
“A gloomier outlook for the steel market for the rest of 2022 is consolidating and will most likely have spill over effects also on 2023”, said Axel Eggert, Director General of the European Steel Association (EUROFER)....

Economic and market outlook: Economic and steel market outlook 2022-2023, third quarter

Third quarter 2022 report. Data up to, and including, first quarter 2022
24 August 2022
The positive trend seen in apparent steel consumption throughout 2021 continued over the first quarter of 2022, but was slowed down by ongoing, severe global supply chain disruptions, rising energy prices and production costs....

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