European Steel: Green Transition Commitment

EUROFER
EUROFERImage Source: EUROFER

Synopsis:

European steel's social partners, industriAll European Trade Union and EUROFER, pledge joint efforts for a competitive transition amidst high energy costs and overcapacity. Supporting legislation for sustainability, they aim to secure investment and ensure no steel worker or region lags in the green and digital shift.

Article:

The European steel sector faces challenges amidst soaring energy expenses and global overcapacity. The social partners, industriAll European Trade Union and EUROFER, unite to propel the green and digital transitions vital for the industry's sustainability.

Acknowledging the indispensability of European steel in providing 310,000 direct and 2.2 million indirect jobs within the EU, the social partners emphasize the urgency of finalizing pertinent EU legislations ahead of the 2024 elections. These legislations aim to secure a more sustainable future for the European steel industry.

The joint commitment underscores the necessity of robust support for investments, ensuring an inclusive transition that doesn’t leave any steel worker or region behind. The partners stress the importance of legislative frameworks in areas such as funding, permitting, trade, energy, and climate to facilitate investment and decarbonization.

Furthermore, access to EU funds like the Modernisation Fund and EU Innovation Fund is advocated, essential for steel plants seeking decarbonization. The partners also prioritize addressing energy costs and prices, advocating for immediate solutions while also emphasizing access to affordable and clean energy sources like hydrogen for the long term.

The commitment extends to supporting the revision and implementation of the EU’s Waste Shipments Regulation, emphasizing the necessity of upholding high social and environmental standards and ensuring access to quality scrap for the European steel industry.

Conclusion:

The joint commitment between European steel social partners signals a unified effort toward a sustainable future. Their emphasis on legislative support, access to funds, and fair energy pricing aims to drive a successful green and digital transition while safeguarding the livelihoods of steelworkers and ensuring the industry's competitiveness.

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