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On the technical report on the EU taxonomy published in June 2019 by the technical expert group on sustainable finance
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On 18 June 2019 the Technical Expert Group (TEG) on Sustainable Finance – set up by the European Commission – published its technical report on the EU taxonomy. The report sets out the basis for a future EU taxonomy in legislation. It presents the results of the development of an EU classification system for environmentally-sustainable economic activities (‘Taxonomy’).
The published report constitutes a positive evolution of the interim results, which were submitted to the stakeholders for the first and second rounds climate change mitigation activities and adaptation activities.
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Brussels, 03 May 2023 – The year 2022 came to a close with a sharper-than-anticipated recession in apparent steel consumption (-7.2%) as steel demand shrank significantly, due to the energy crisis and the impact of the war in Ukraine. Although the worst seems to be over after the fourth quarter of 2022, apparent steel consumption is still projected to be negative (-1%) in 2023, before rebounding in 2024 (+5.4%). However, high uncertainty continues to cast a shadow on the outlook for 2023, which remains bleak. Although steel imports have decreased in tandem with demand, their market share is still historically high (23.4%).
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