The European Council announced on Friday, October 24 that the EU heads of state and government have agreed on a European energy and climate policy framework for the 2020 to 2030 period, including a CO2 emission reduction target of 43 percent.
According to the European Steel Association (EUROFER), it is a relief that the European Council has agreed not to impose direct or indirect CO2 costs on the most efficient installations in globally competing industries such as steel.
"The new framework is an extremely challenging target for Europe's industry in absence of similar constraints for our competitors worldwide. But the clear commitment by the heads of state to set safeguard measures at the level of the most efficient installations is a positive signal for industrial investment, growth and jobs in Europe", stated Axel Eggert, acting director general of EUROFER.
The German steel federation Wirtschaftsvereinigung Stahl (WV Stahl) has also expressed concern over the potential extra costs the new emission targets will bring for the German steel industry. "Our industry could not withstand the competition with the market players in the countries without emissions trading system. To prevent this, the rules of emissions trading for the internationally competing industries for the period after 2020 should be urgently readjusted" said the WV Stahl president Hans Jürgen Kerkhoff.
