“The success of EU climate leadership does not rely on its level of ambition — already unrivaled by any other major global partner — but mainly on its ability to demonstrate that it is possible to combine environmental sustainability with economic growth and social acceptance,” said EUROFER director general Axel Eggert. 

The EU on Tuesday unveiled a new emissions target, one that would lower greenhouse gases by 55% from 1990 levels. The EU aims to achieve this goal by 2030. 

“Based on existing policies and the plans of member states, we are on course to surpass our current 40% target for 2030. This shows that being more ambitious is not only necessary, but also realistic. The energy system will be at the heart of this effort. We will build on the success story of the European renewables sector, look at all the tools at our disposal to increase our energy
efficiency and lay a firm foundation for a greener Europe,” said EU Energy Commissioner Kadri Simson. 

However, steel producers said that foundation must include tangible support, which would include investment in innovation and roll-out, the creation of a market for green materials, the availability of the renewable energy sources capable of meeting industry demand, an international level playing field, and the application of the EU trade defense mechanisms without inhibition against third-country trade distortions.

These mechanisms need to be established quickly, EUROFER said. 

“The EU needs a stable and predictable policy framework that delivers on the climate objectives and preserves the competitiveness of its industrial basis while providing security for planning and investment,” said Eggert. 

Eggert said that while the European Commission acknowledges the investment challenge that the new goal will create, it still must act.  

“The EU institutions must now provide concrete answers and solutions to address this challenge,” he said.