Swedish clean steel producer Stegra has called on the European Union to maintain its current climate policy framework, arguing that the EU Emissions Trading System (EU ETS) has played a key role in securing the investment that is currently transforming the European steel industry.
Steel producers including Stegra are investing billions of euros in low-carbon steel production based on a clear and predictable climate policy framework, the company said. Stegra said these investments are expected to improve the long-term competitiveness and efficiency of the European steel industry, while strengthening Europe's sovereignty, security and resilience.
Stronger support for industrial decarbonization
As the EU prepares for the next revision of the EU ETS, Stegra called on EU institutions to maintain the integrity of the system by avoiding measures that could artificially lower the price of carbon. The company also called for a significantly larger share of proceeds from EU ETS auctions to be recycled into investment in industrial decarbonisation, as well as further strengthening of the Carbon Border Management Mechanism (CBAM). Hydnum Steel, Gravity and LKAB.
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