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EUROFER contribution to the inception impact assessment on the EU taxonomy
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The European Steel Association, EUROFER, welcomes the opportunity to contribute to the Commission’s Inception Impact Assessment on the EU Taxonomy for Sustainable Finance. On 9 March 2020, the EC Technical Expert Group on Sustainable Finance (TEG) published its final report on the taxonomy. Whilst there have been some improvements, the main concerns of the European steel industry still remain to be addressed.
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Proposed credit would allow European carmakers to meet 3% of their CO₂ targets through low-carbon steel made in the EU rising to 7.5% from 2035.
Brussels, 21 October 2026 - The European steel industry welcomes a compromise reached in the European Parliament yesterday on CO₂ standards for cars and vans, which includes a dedicated incentive for carmakers to use low-carbon steel Made in the EU.
As EU steel production rises, helping preserve up to 80,000 jobs, the industry reports €3.4 billion in investment decisions, with a further €2.4 billion expected by year-end.
Brussels, 1 October 2026 - The European Steel Association (EUROFER) has elected Geert Van Poelvoorde, Chairman of the Board of ArcelorMittal Europe Steel, as its new President. Taking office today, Mr Van Poelvoorde said stronger home markets across the steel value chain, secure access to export markets and a strong industrial base will be essential to delivering on the European Union’s ambitions for global competitiveness and strategic autonomy.
The European Steel Association (EUROFER)
172 Avenue de Cortenbergh
1000 Brussels
Belgium
Email: mail@eurofer.eu
Phone: +32 (0) 2 738 79 20
