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Creating predictable demand for genuinely low-carbon steel is urgent. If properly designed, low-carbon steel credits can create a lead market for green steel and secure a future for a green steel industry in Europe.
What to know about Joint Letter on Low-Carbon Steel Credits in the
Many green steel projects have been announced across Europe in recent years. However, some are facing setbacks due to a lack of offtake for low-carbon steel products. Without strong and timely lead market policies, Europe risks losing industrial capacity, jobs and technological leadership.
Creating predictable demand for genuinely low-carbon steel is therefore urgent. If properly designed and unencumbered by additional flexibility or extensions of scope of the car CO₂ emission standards Regulation, low-carbon steel credits can create a lead market for green steel and secure a future for a green steel industry in Europe.
Signatories call on co-legislators to:
- Protect the car CO2 regulation from additional flexibilities and weakening. If the final text were to include some of the most regressive proposals on the table, this would turn a powerful lead-market instrument into an empty shell.
- Start in 2030 to reward early movers using fossil-free capable infrastructure.
- Reward fossil-free ironmaking and steelmaking from 2035.
- Focus on EU-made steel to support Europe’s industrial transformation.
Article from T&E.
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