The European Parliament has rejected the law proposals for the Fit-for-55 climate package, including the introduction of the Carbon Border Adjustment Mechanism (CBAM) and the revision of the Emissions Trading System (ETS). The European Steel Association (EUROFER) has stated that the European Parliament’s vote on the ETS and the CBAM is very disappointing as it delays a much-needed revision of the current proposals. The rejection of the proposals is neither good for the climate nor for the industry’s green transition, EUROFER noted.
The majority of members of the parliament had adopted amendments which supported the transition of the steel industry over the coming years. In this way, 30,000 jobs at risk could have been saved by keeping European steel competitive while decarbonizing.
“We hope that the negotiations will soon be resumed among members of the European Parliament and that a solution addressing our concerns will be found, helping us to decarbonize in a sustainable manner and secure that the Carbon Border Adjustment Measure prevents effectively carbon leakage, including for exports”, said Axel Eggert, director general of the European Steel Association (EUROFER).