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Watch the EUROFER | Engage webinar - Making sense of EU climate policy
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EUROFER Engage | Webinar - Making sense of EU climate policy.
In 2021, the EU is not only working out how to put an effective Carbon Border Adjustment Mechanism (CBAM) into place, but is also looking at how to reshape the EU Emissions Trading System in line with the EU Climate Law and its 55% 2030 target, promulgated in 2020.
The European steel industry is committed to contributing to EU’s climate and energy goals and European companies have been launching several projects to reduce emissions deeply. Yet, the successful implementation of such projects requires a comprehensive and supportive regulatory framework, including funding support, access to low carbon energy sources at internationally competitive prices and de-risking instruments such as contracts for difference.
Higher climate ambition requires strengthened carbon leakage measures, in particular for sectors at highest risk, such as steel – not their weakening. A CBAM might provide this strengthened carbon leakage protection, but only if it complements free allocation at the level of the current benchmarks and addresses the shortcomings of the existing measures for a transition period. This transition period should run until a market for ‘green’ steel is fully formed.
This webinar will discuss the implications of the EU’s latest moves on the steel industry, as well as how the CBAM should be implemented and its effects on the rest of EU climate legislation.
EUROFER’s views on how steel can support the EU’s climate objectives will also be presented – showing that the steel is well placed to help meet the EU’s climate objectives in the right circumstances.
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Brussels, 22 March 2024 – The future of a strong and resilient EU can only be forged with steel made in Europe. Europe-made low-carbon steel has a strategic role as it enables a net-zero economy, but today it faces strong headwinds from high energy prices, unfair competition, global overcapacity and growing unilateral carbon costs. The year 2023 has recorded the lowest European crude steel production levels ever, with a number of idled plants and dire impact on workers. Ensuring the enabling conditions for the short-term viability and the decarbonisation of the steel sector urgently needs to be at the top of the EU agenda. This is the message delivered by the European Steel Association together with a number of high-level representatives of the sector on the occasion of the Clean Transition Dialogue on Steel in the presence of the Executive Vice Presidents of the European Commission, Maroš Šefčovič and Margrethe Vestager.
Uses, limits, and realistic potentials of demand-side response from the European steel industry along with a broad set of framework recommendations for an EU policy
Antwerp, 20 February 2024 – Today 73 industry leaders spanning almost 20 industrial sectors presented ‘The Antwerp Declaration for a European Industrial Deal’ to Belgian Prime Minister, Alexander De Croo and Commission President, Ursula von der Leyen. The declaration underlines the commitment of industry to Europe and its transformation and outlines urgent industry needs to make Europe competitive, resilient, and sustainable in the face of dire economic conditions.