Europe has the opportunity before it to lead the transformation of its economy to a future in which it is carbon-lean, environmentally responsible, circular and able to compete internationally. Steel is central to the EU economy, and it underpins the development of major manufacturing sectors right along the value chain.
With supportive conditions in place, notably the right infrastructure and a supportive regulatory framework, the European steel industry will be empowered and fully committed to the EU’s climate objectives and sustainable growth targets. The sector would be able to develop, upscale and rollout new technologies that could reduce EU steel production’s CO2 emissions by 30% by 2030 and by 80 to 95% by 2050, while contributing to greenhouse gas mitigation across all sectors.
Energy is key to achieving the steel industry’s low-carbon goals.
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Brussels, 09 July 2020 – With the Global Forum on Steel Excess Capacity (GFSEC) having been reactivated, the European Steel Association (EUROFER) has called for an intensification of its ongoing work. The GFSEC is a key forum to establish the transparency necessary to map global overcapacity – a pre-condition to facilitate capacity reductions globally.