Three major steelmakers—ArcelorMittal Europe, thyssenkrupp Steel, and voestalpine—call for urgent reform of the EU Emissions Trading System (ETS). These companies collectively represent 60% of Europe’s integrated steel production.
The group warns that current carbon pricing threatens the viability of the regional industrial base. They argued in a joint statement and the Financial Times that infrastructure for green hydrogen and carbon capture is not yet available at scale.
Current policies could increase steel production costs by 50% by the early 2030s. This surge would make European steel uncompetitive against imports that do not face similar carbon costs.
The producers project a 30-40% decline in steel-intensive manufacturing without pragmatic reforms. Such a contraction puts up to 5 million jobs at risk across the value chain.
The group advocates for a pause in ETS cost increases until decarbonization becomes economically viable. They also seek more targeted support for green steel projects.