The European Commission has exposed its "Green Deal" industrial plan, which aims to boost the competitiveness of the European zero emissions industry and support a rapid transition towards climate neutrality. It aims to expand the EU's production capacity and create a more conducive environment for the production of zero-emission products that Europe needs to meet its ambitious climate goals.
EUROFER said the industrial plan should encourage investment and other clean technology investments in the region, similar to the US Inflation Reduction Act to enable low carbon steel projects. EUROFER also underlined the critical importance of a value chain approach that focuses on all the key upstream and downstream sectors necessary to manage the EU climate and circular economy targets.
EUROFER's CEO said “We urge the Commission to develop a concrete plan that will provide access to carbon capture as well as access to timely, abundant and affordable energy without the use of fossil fuels and hydrogen for metals and other sectors ready to accelerate decarbonisation. A structured, comprehensive and long-term EU industrial policy proposal should aim to match the level of incentives provided by our international competitors."
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