EU climate policy should not be the scapegoat for oversupplied steel market
7 november 2016
Carbon Market Watch
This Wednesday, IndustriAll Trade Union organises a demonstration in Brussels demanding actions against the European steel sector’s economic decline. Some of the unions perceive the EU’s emissions trading as a threat to European jobs. Different carbon market analysts warn:
- Steel companies have been insulated from the impact of the EU Emissions Trading System (EU ETS).
- They have made billions of euros in windfall profits from the EU ETS, in total €8 billion over 2008-2014.
- EU steel industry suffers from inadequate protection from unfair competition, mainly form Chinese producers. ….