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The European Steel Association has welcomed the Recovery Plan proposal and has proposed a Green Deal on Steel and matching support measures for the steel industry and its value chains such as automotive, construction and mechanical engineering. EUROFER Director General Mr Axel Eggert said “We welcome the EU’s efforts to mitigate the impact of the COVID-19 pandemic on EU society, the economy and on European business. We further welcome the focus on the green transition and digital transformation as essential parts of the Recovery Plan.”
The European steel industry has made comprehensive proposals for a Green Deal on Steel, keeping the EU on track to meet its climate and circular economy objectives while securing the global competitiveness of this strategic sector. Mr Eggert said “The European steel industry could be the spearhead of a decarbonised EU industry, providing green and perfectly circular steel to the EU’s and global manufacturing value chains. This will require significant investment in new technologies from 2021 to 2030 and beyond. The sector will also have higher capital and operational costs as a result of using green energy and matching input materials. “These extra costs will need to be balanced by a well-coordinated combination of financing support schemes and regulatory pull-and-push measures. With the right approach and provided we can recover from the current crisis our industry may be empowered to reduce its direct and indirect CO2 emissions by up to 30% by 2030 on top of around 25% emission reductions already achieved between 1990 and 2018”.
Mr Axel Eggert added “We have the ambition, under the right conditions, to reduce emissions by at least 80% to 95% by 2050, strengthening existing production and value chains, building and supporting new industrial eco-systems based on hydrogen, carbon feedstock and circularity.”
The European Commission, following the request by the European Council, will present its EU Recovery Plan to support a climate-neutral, digitalised and resilient EU economy, helping to rebuild after the COVID-19 pandemic.