News » A Green Deal on Steel video series - episode 1
A Green Deal on Steel video series - episode 1
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The European Steel Association (EUROFER) has published the first of its Green Deal on Steel video series, exploring how steel could make the transition to becoming central to the low-carbon, circular economy by 2050, under the right conditions.
The EU launched its Green Deal for Europe in late 2019, and has made the Green Deal an integral part of its plan to relaunch the European economy in the wake of the COVID-19 pandemic.
EUROFER is convinced that a Green Deal on Steel could be a flagship for the wider EU Green Deal. The European steel sector is one of the most advanced industries in terms of its forward planning for its green transition.
EUROFER has set out a series of pathways towards reaching its climate change commitments, including mapping out the pathways the sector will eventually be able to go down to dramatically reduce its emissions over the next 30 years.
Watch the video here, or you can find it on youtube using the links below.
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Brussels, 25 July 2024 – Major indicators in the European steel market show a steeper-than-expected downward trend, further impacting the outlook for this year and the next. Poor demand conditions, driven by ongoing factors such as high energy prices, persistent inflation, economic uncertainty and geopolitical tensions, are exacerbated by a manufacturing crisis affecting the largest steel-using sectors, including construction and automotive. According to EUROFER’s latest Economic and Steel Market Outlook, apparent steel consumption is further deteriorating. After a slump (-3.1%) in the first quarter of 2024, its rebound for the full year has been revised downwards (to +1.4% from +3.2%), as well as for 2025 (+4.1% from +5.6%). Similarly, output in steel-using sectors, after a decline in the first quarter (-1.9%), is projected to experience a deeper-than-expected recession (-1.6% from -1%). A recovery is anticipated only in 2025 (+2.3%). Steel imports continue to show historically high shares (27%).
Third quarter 2024 report. Data up to, and including, first quarter 2024
Picture Copyright: European Union, 2024 Source: EC - Audiovisual Service
Brussels, 18 July 2024 – The re-election of Ursula von der Leyen as President of the European Commission paves the way for the continuation of the ambitious initiatives started in her first term. For a stronger and prosperous Europe, defining a pragmatic set of measures within the first 100 days of the new Commission mandate is the right step forward to ensure the success of the EU’s industry transition, if properly implemented. The European Steel Association urges that the Clean Industrial Deal be complemented as a priority by a European Steel Pact, as proposed by the German delegation to the European People’s Party (EPP).