Why is the Commission presenting an Action Plan for the European Steel and Metals industry?
Steel and metals are vital to Europes industrial economy, crucial for energy, transport, construction, and defense. The industry needs to tackle high energy costs and global competition while pushing for decarbonization. The Action Plan builds on the Clean Industrial Deal to drive growth and address global overcapacity and market challenges, including US tariffs.
How does this plan help European steel and metal companies stay competitive?
The plan enhances competitiveness by focusing on clean energy, preventing carbon leakage, strengthening capacities, promoting circularity, defending jobs, and de-risking projects.
What measures support access to cleaner energy?
Member States are urged to use EU energy legislation flexibilities and state aid to reduce costs. The Commission will guide on network tariffs and support schemes for clean energy.
What funding is available for decarbonization?
The EU supports investments with public and private funding. Future initiatives include the Research Fund for Coal and Steel and a €1 billion auction for decarbonization projects.
How is global steel overcapacity addressed?
The Commission proposes adjustments to the steel safeguard and plans a new trade measure for sustained protection against global overcapacity.
What measures are proposed for unfair trade practices?
The Commission will use trade defense tools and investigate safeguards in the aluminium sector and others to prevent circumvention.
What is proposed to prevent carbon leakage?
The EUs CBAM aims to price carbon fairly and encourage cleaner production globally. Key aspects will be frontloaded in 2025.
How does the Commission support workers?
By ensuring plants operate within the EU, the Commission aims to protect jobs and work with partners for a fair transition.
What role does the Critical Raw Materials Act play?
It provides funding and streamlines regulations for projects involving key materials like aluminium, copper, and nickel.
What is the Transition Pathway?
The Transition Pathway involves stakeholders to ensure a successful green and digital transition, supporting the Steel and Metals Action Plan.
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