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.

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