“We need a reformed EU emissions trading system (ETS) that is fair and achievable. At present, the proposed EU ETS beyond 2020 creates costs for European steelmakers that are not borne by our global competitors,” states a letter signed by 58 of the most senior executives from the European steel industry that addresses EU leaders.
”This risks jobs and investment in European steel. We need an EU ETS that changes how steel is made, not where it is made”, they add.
The EU Emissions Trading System is the largest and most ambitious carbon market in the world.
”The European steel industry is committed to CO2 reductions and is working hard to develop low carbon technologies. However, we need a reformed EU ETS that is fair and achievable,” they went on to say.
“Make the right choices to ensure that our sector and its value chains flourish, investment continues, and the jobs of the men and women who work in our sector are sustained.”
The call comes ahead of the European Council summit of 20-21 October 2016, towards the end of a year that has seen the European steel industry under continued pressure. Notably, EU leaders will discuss the modernisation of Europe’s Trade Defence Instruments, which the European steel industry has consistently pushed for.
The Open Letter highlights the steel industry’s challenges, and calls on EU policy makers to develop more effective, faster measures to re-establish fair trade, to align with the US on the Market Economy Status of China, and build an EU ETS that creates no cost burden beyond economic and technological feasibility.
