On February 25, the European Confederation of Iron and Steel Industries (EUROFER) said it is against the EU's draft document ‘Low carbon economy roadmap 2050', which will be put forward for adoption by the European Commission on March 8.
In a statement entitled ‘EU low carbon roadmap 2050 unacceptable/ Japan buries emissions trading', EUROFER said that the adoption of the intended 80-95 reduction in EU emissions by 2050 "will lead to the deindustrialization of Europe."
"The confiscation of allowances from the emissions trading system, as proposed by the roadmap, will have exactly the same effect as a unilateral move to [a reduction of] 30 percent, this is unacceptable," EUROFER said, adding that "the models used by the Commission rely on biased assumptions which systematically underestimate the negative effects on industry and employment," and "for steel where they are technically unachievable."
EUROFER has cited Japan, which following the US and Australia, abandoned the idea of a national emissions trading system recognizing that this would discourage investment, hamper growth, jeopardize the competitive position of its industry and be environmentally counter-productive. "However, as even Japan now has buried its ambitions for an emissions trading system, the EU is completely isolated and should reconsider this concept," reads EUROFER's statement.