With international climate change negotiations still making slow progress, regions are taking their own steps to tackle the issue. Steelmakers’ associations, concerned by the added cost to their members, have fought a rearguard action against stricter emissions regulations. Both European Commission’s DG Climate Action and Eurofer have argued firmly about what measures are and are not legitimate. But what is clear is that the steel industry will have to adapt to a more regulated and greener economy. To learn how the industry can adapt to, and even profit from, increased regulation, come to SBB’s third annual Green Steel Strategies conference in berlin on 19-20 April.
SBB 26 December Some EU member states are in favour of moving to a 30% carbon emission reduction target and the European Commission will present a member state-led study of the investment benefits of a 30% target in the first half of 2012, the commission tells Steel Business Briefing.
However, Eurofer says it “does not see how [the] Durban [conference] could have given grounds for any stricter targets in the period before 2020”. In particular, any increase in EU targets is to be linked to binding reductions in other regions. “None of the conditions set by the EU Emissions Trading System (and set in the ETS) have been fulfilled in Durban,” Eurofer notes.
One source states that following the relative success of international climate change negotiations in Durban, proponents of faster reductions have “more energy”.
The European Court decided to include non-EU airlines in the ETS; The commission released guidelines on state compensation for higher energy prices resulting from the ETS; and the European Parliament’s environment and industry committees have approved the removal of 1.4bn carbon phase 3 carbon credits from the ETS, in order to strengthen prices.
Before the set-aside takes effect it must be first voted in by the parliament’s industry committee, the EU member states and the plenary session of the parliament, explains Carine Hemery of carbon market analysts, Orbeo. This is unlikely to be complete before June.