The European Steel Association (EUROFER) has commented on the European Commission’s recent launch of its long-term EU greenhouse gas emissions reductions strategy. EUROFER stated that there needs to be a more detailed assessment regarding the implications of a low-carbon economic strategy.
EUROFER director general Axel Eggert highlighted the importance of a global commitment, considering the EU’s ten percent share in global emissions. He added, “Steel alone would require an additional 400TWh of electricity by 2050 if all of its low-carbon projects were to be deployed. We need clear mapping of these requirements.”
According to EUROFER, the European Commission’s strategy also needs to identify and mobilize investment from both public and private sources for the demonstration, scale-up and commercialisation of breakthrough technologies.
Finally, EUROFER stated, the EU steel sector’s global competitors should be considered. As it is, the EU already imports over 26 million mt of steel from countries without comparable climate policies. Low-carbon investments are long-term propositions. Before any benefits are reaped, these additional costs will hamper EU competitiveness compared to non-EU players and risk undermining the environmental integrity of EU policies, EUROFER said.