GREEN STEEL H2 GREEN STEEL SUPPORTS EU PLAN TO REDUCE CARBON EMISSIONS

GREEN STEEL H2 GREEN STEEL SUPPORTS EU PLAN TO REDUCE CARBON EMISSIONS

Carbon pricing at European level is seen as a key part of achieving carbon neutrality by 2050 and reducing greenhouse gas emissions to 55% of 1990 levels by 2030.

This is one of the reasons why H2 Green Steel has joined the Cross Industry CEO Alliance to support the EU’s plan to reduce carbon emissions by 55% by 2030.

Specifically, several cross-cutting projects and policy recommendations will serve the global climate cause and foster sustainable growth and future-ready jobs.

The European CEO Alliance believes that the fight against climate change will require a collective effort by all EU member states and collaboration between the public sector and industry.

As the EU Commission prepares to present its Fit for 55 legislative package, the European CEO Alliance has issued policy recommendations that support a progressive and ambitious drive to achieve climate neutrality.

Tackling climate change requires strong collaboration between the public sector and industry, the Alliance announced after its Paris meeting.

The Alliance would welcome a review of the main EU regulatory instruments, in particular subsidies for high CO2 emitting technologies.

In particular, speeding up measures to decarbonise mobility and transport, sending a strong signal on carbon pricing, buildings and energy systems as well as accelerating the renewal of key industrial sectors in the EU are among the key proposals put forward by the executive directors.

In this regard, Henrik Henriksson, CEO of H2 Green Steel said he is honoured to be part of this important group of companies that share the conviction to support the EU Green Deal.

“We firmly believe that the fight against climate change will require a collective effort by all EU member states. Collaboration between the public sector and industry is essential. With our leading expertise in hydrogen and CO2-free steel production, we can bring the latest know-how to further enable and accelerate heavy industry’s transition to sustainable operations,” adds H2 Green Steel’s CEO.

As a central instrument, Alliance members proposed a strong carbon price signal to achieve the EU’s climate goals.

In his view, carbon should be priced throughout the economy.

The Alliance also called for continued improvement of the EU Emissions Trading Scheme.

Another proposal concerns a European carbon pricing system that would include measures to simultaneously achieve a social balance and emission reductions.

European climate targets require a rapid build-up of renewable energy generation and the direct electrification of mobility, transport and heating/air conditioning of buildings.

The CEO Alliance is working on a project to integrate electrical systems, in particular grids, in order to create a system based mainly on renewable energies and flexible solutions.

The Alliance for Europe’s Recovery, Reform and Resilience was formed in 2020 in the context of the Covid-19 pandemic and the historic European Green Pact.

The common goal of the Alliance is to make the EU the world’s leading climate protection region, unlocking investments, boosting innovations in new technologies and creating future-proof jobs.

Other projects are in the pipeline, including one involving low carbon steel.

The CEOs will deliver their first tangible results and discuss implementation with high-level EU representatives at a summit scheduled for autumn 2021.