EUROFER: Fit for 55 is important to achieve climate targets

Thursday, 16 September 2021 12:01:38 (GMT+3)   |   Istanbul

The European Steel Association (EUROFER) has stated that if the European Commission’s Fit for 55 Package, which is a part of the Green Deal, puts the right conditions and incentives in place, the European steel industry can achieve its target of reducing its emissions by 55 percent by 2030 compared to 1990.

The European steel industry calls on EU legislators to provide access to affordable low carbon energy, especially electricity and hydrogen, investment support for clean technologies and effective carbon leakage protection to ensure full support in the climate transition.

According to EUROFER, higher climate ambition and rising carbon prices, which doubled in the last year and tripled in the last two years, require strengthened carbon leakage protection.

The Fit for 55 package includes the revision of the EU Emissions Trading System, a Carbon Border Adjustment Mechanism, revision of the Energy Tax Directive, and amendments to the Renewable Energy and Energy Efficiency Directives to implement the ambition of the 2030 climate target, as SteelOrbis previously reported.

Similar articles

AFV Beltrame Group reveals strategies for sustainability

31 Mar | Steel News

No demand recovery yet in southern European longs market

31 Mar | Longs and Billet

Romanian flats producer keep prices stable, local traders raise offers

31 Mar | Flats and Slab

Italy’s domestic scrap market stable amid negative global sentiment

31 Mar | Scrap & Raw Materials

Producer prices in French industry down 0.7 percent in Feb from Jan

31 Mar | Steel News

ArcelorMittal Poland to modernize coke plant

31 Mar | Steel News

Romania's longs prices stabilize despite bearish market outlook

30 Mar | Longs and Billet

European HRC mills target rises in April, but sustainability questionable

30 Mar | Flats and Slab

EU adopts anti-coercion instrument proposal against blackmail from third countries

30 Mar | Steel News

UNESID: Spanish steel output up 20.3 percent in Jan from Dec

30 Mar | Steel News