Date: 2013-08-01

European Steel Day with more than 500 participants

European climate policies put the steel industry under pressure to reach ever more ambitious CO2 reduction targets while technologies to do so are not at hand. This is indicated by studies on the CO2 abatement potential of steel making in Europe discussed during the European Steel Day in Brussels on May 16th.

A study conducted by The Boston Consulting Group and the Steel Institute VDEh, looks into possible CO2 mitigation from steel production up to the year 2050. It was commissioned by The European Steel Association EUROFER in response to the current EU climate policy framework and the Commission Communication on a low carbon Europe 2050, which sets a reduction target of 80% to 95% for CO2 emissions.

However, the European steel industry's potential to further reduce CO2 from steelmaking up to 2050 is, due to economic and technical issues, limited to 15% per tonne of steel produced. The theoretical potential is 56%, which still falls short of the Commission's 2050 target and relies on the development of new technologies not yet in existence and on a functioning infrastructure for Carbon Capture and Storage (CCS), the technical and economic viability of which has not yet been proved.

Furthermore, growing resistance against CCS projects in the European Union's Member States makes it questionable whether the technology will be put into practice in the foreseeable future.

These results confirm the findings of the EU's Joint Research Centre published in its Prospective Scenarios on Energy Efficiency and CO2 Emissions in the EU Iron & Steel Industry in December last year. The BCG/VDEh study will feed into the EUROFER Steel Roadmap for a Low Carbon Europe 2050 to be published before the summer. The EUROFER Roadmap will also build on data and conclusions from other research program, with a view to come to a set of policy recommendations to maximize steel

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