German Steel Association WV Stahl President Mr Hans Jürgen Kerkhoff said “With the agreement between the seven largest industrial nations for a joint alliance on climate protection, the Federal Government has achieved an important goal during its G7 Presidency. Now it is important that Federal Chancellor Olaf Scholz and Federal Minister of Economics Robert Habeck give the climate club further dynamism. We need these international efforts to coordinate action on climate protection and defuse possible trade conflicts. From the steel industry's point of view, it is particularly important that Allianz focuses particularly on the creation of green lead markets.”Mr Kerkhoff added “Markets for climate-neutral raw materials are a central prerequisite for the industrial transformation towards a climate-neutral economy. In order for them to arise, a broad common understanding of what is meant by green steel, for example, is required. The steel industry has drawn up a proposal for this and hopes that it will soon be taken up in the Climate Club. To this end, we are counting on the support of the Federal Government.”After the G7 had agreed at the summit meeting in Elmau in June 2022 on the initiative of Federal Chancellor Olaf Scholz to work towards the establishment of a climate club by the end of the year, a statute was presented on 12 December. This is coordinated between the G7 states and serves as a guideline for future climate alliance for further work. Consultation is currently underway on the long-awaited draft of the funding guideline for climate protection contracts in Europe, which will reduce companies' additional costs for CO2-low-production processes, should be compensated.