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Joint statement by energy intensive sectors on CBAM
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CEMBUREAU, EUROFER, EUROMETAUX, EUROPEAN ALUMINIUM and FERTILIZERS EUROPE represent the four
industrial sectors proposed by the Commission to be included in the scope of the EU Carbon Border Adjustment
Mechanism (CBAM)– cement, steel, aluminium and fertilisers.
Properly addressing the issue of carbon leakage is critical to avoid a situation where the EU’s climate ambitions
lead to an overall increase in global emissions. Such an outcome would undermine the entire “Fit for 55 Package”,
a package intended to deliver EU’s climate targets and promote green industrial growth. While the European
products are already cleaner than our major global competitors, we still face unilateral carbon costs. As long as
competitors in third countries are not subject to equivalent carbon costs and constraints, carbon leakage remains
a major threat for the EU Green Deal, even more with the very high carbon price expected by 2030.
Having thoroughly analysed the measure, we focus on 4 key issues without which CBAM will not be effective in
preventing carbon-intensive imports nor promote comparable carbon pricing in third countries.
- Maintain the current carbon leakage framework until 2030 to test the CBAM, smoothen the impact on
value chains and trade flows and ensure EU industry focuses resource on investment;
- Include a solution for European exports;
- Strengthen and extend anti-circumvention provisions;
- Improve design parameters (e.g., default values) and governance for a water-tight CBAM.
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Joint statement
First quarter 2023 report. Data up to, and including, third quarter 2022
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.