Oct 19, 2022
EU steel industry to receive free carbon allowances at least until 2032
2022-11-03
Following the talks between EU member states and the European Commission held recently, Peter Liese, German lawmaker and the EU Parliament’s lead negotiator on the Emissions Trading Scheme (ETS), said that the EU steel industry will continue receiving free carbon allowances at least until 2032. Although with the energy crisis the Commission decided to ease the pressure on the industry, the steel industry will still have to cut carbon emissions in line with annual targets.
Previously, the European Commission had voted for the gradual removal of free carbon allowances, with a final deadline of 2030.
The EU aluminum industry, impacted by high electricity bills and highly exposed to foreign competition, will also receive some concessions such as indirect cost compensation.
Source: Steel Orbis
