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Steel industry feedback on the substantiating green claims initiative
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The European Steel Association - EUROFER, supports the establishment of a common and consistent assessment framework that will, in principle, reduce costs for industry by limiting the proliferation of assessment methods and labels.
This should help keep access to a single market without barriers to trade, and also ensure that the environmental impact of imported goods can be properly assessed. The initiative should also reduce the possibilities for greenwashing, where comparisons are made using inconsistent data and advantageous assumptions.
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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.