“By acting now we can do things another way... and choose a better, healthier and more prosperous way for the future,” European Commission president Ursula von der Leyen said on Wednesday.

“It is our generational task... [to secure] the well-being of not only our generation, but of our children and grandchildren. Europe is ready to lead the way.”

The European Steel Association was quick to raise concerns about the proposals, saying that proposed changes to the bloc’s carbon emissions trading system could lead to artificially higher carbon costs and hinder the steel industry’s ability to further lower its environmental footprint. 

“The European steel industry has long-established plans to reduce emissions by 55% compared to 1990 levels, and has over a hundred highly advanced low-carbon projects spread across Europe,” said Axel Eggert, the association’s director general.

“However, the success of these projects is contingent on being able to direct the appropriate resources and find markets for the resulting ‘green’ steels, which will come at a higher cost than conventional steel.”

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