Post by ArcelorMittal

Today, three of Europe’s leading steelmakers - ArcelorMittal, thyssenkrupp Steel and voestalpine - are raising a united voice. Together, we represent around 60% of Europe’s integrated steel production: today we are jointly calling for a pragmatic, urgent reform of the EU Emissions Trading System (ETS). Europe cannot afford a climate policy that accelerates decarbonisation at the expense of its industrial backbone. We have each committed to transforming steelmaking, but the current ETS trajectory risks undermining that transformation — and with it, Europe’s competitiveness, resilience and millions of jobs across the value chain. In a joint position announced today — including an opinion piece by ArcelorMittal executive chairman Lakshmi Mittal in the Financial Times — we highlight the growing gap between the planned rise in ETS costs, and the absence of the enablers needed for industrial decarbonisation: competitive electricity prices, affordable green hydrogen, carbon contracts for difference, carbon capture and storage, and lead markets for low-carbon-steel. As Lakshmi Mittal notes: “The choice is between a climate strategy that strengthens Europe’s resilience and economic security, and one that hollows it out.” Read the full opinion piece on the Financial Times https://lnkd.in/de5TrN5d and learn more here https://lnkd.in/d2-7daDX.