Last week, the European Commission President, Ursula Von Der Leyen, announced plans to reduce greenhouse gas emissions by 55% by 2030, compared with 1990 levels. This revised target – the previous one was 40% - if met, will put the European Union on track to meet its commitment to the Paris Agreement.
ArcelorMittal Europe has its own CO2 emissions goal, of 30% by 2030. The company has spent several years testing technologies to produce steel in a carbon-neutral way and is building pilot projects at different sites around Europe that are part of the company's two breakthrough carbon-neutral technology routes: Smart Carbon, and innovative DRI (read ArcelorMittal Europe's Climate Action Report).
But to support us in our climate goals, the industry needs the EU's support with a set of policies, as soon as possible, to ensure that decarbonisation is achieved while promoting economic growth and sustainability.
Indeed, having the right policies to support Europe's steel industry to become carbon neutral is paramount.
ArcelorMittal Europe therefore welcomes the European Commission's policy proposals, outlined in its 2030 Climate Target Plan announced on 17 September 2020, which – if successfully implemented – will provide a supportive policy framework for the company to achieve its climate targets.
We believe there are four key policy enablers that are needed, to provide the legislative platform for ArcelorMittal Europe to achieve its climate targets:
- The Carbon Border Adjustment - a key policy mechanism for decarbonisation, while also creating a fair competitive landscape by aligning the carbon costs of EU domestic steel producers with that of imports.
- Access to abundant and affordable clean energy, to enable the roll-out of low-emissions steelmaking.
- Access to sustainable finance for low-emissions steelmaking.
- Accelerate the transition to a circular economy: EU climate and materials policy should be integrated, taking a lifecycle perspective to ensure that materials are used in a circular way as much as possible.
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