October 07, 2008

ArcelorMittal wants global steel emissions deal

Mr LN Mittal head of global steel giant ArcelorMittal during a news interview told Belgian business daily De Tijd that the steel industry should be covered by a global deal on carbon dioxide emissions.

Mr Mittal said that he believed a level should be set for the allowed emissions per tonne of steel. Steel producers below that level should be given a credit, while those above would be forced to buy credits. He added that "In this way you make the sector invest in efficient solutions so as constantly to improve its technology.”

He added that “ArcelorMittal is investing millions to reduce emissions at its plants. But I think that we need a sector deal on the environment for the whole of the steel industry. An average Chinese steel plant emits twice as much carbon dioxide as a European one. But the Chinese steel can be imported into Europe without any problems.”

Mr Mittal said that European Commissioner for Industry, Mr Guenter Verheugen, supported this idea and planned to set up a committee of experts next year with steel representatives.