RegulatoryJun 17, 2026, 07:19 AM
ArcelorMittal, Peers Warn EU ETS Risks 5M Jobs, Seek Reform
AI Summary
ArcelorMittal, along with thyssenkrupp Steel and voestalpine, has issued a joint call for urgent reform of the EU Emissions Trading System (ETS). The steelmakers warn that without adjustments, the current ETS trajectory risks destroying Europe's industrial base, potentially leading to a 30-40% decline in steel-intensive manufacturing and putting up to 5 million jobs at risk. They estimate steel production costs in the EU could rise by around 50% by the early 2030s under the current framework. The companies propose a temporary pause in ETS cost escalation, directing ETS revenues to industrial decarbonisation, and a framework to support early decarbonisation projects.
Key Highlights
- ArcelorMittal, thyssenkrupp Steel, and voestalpine jointly call for urgent EU ETS reform.
- Warns current ETS risks 30-40% decline in steel-intensive manufacturing activity.
- Estimates up to 5 million jobs at risk across the value chain without reforms.
- Projects EU steel production costs to increase by approximately 50% by early 2030s.
- Proposes a temporary pause in ETS cost escalation until key decarbonisation enablers are in place.
- Advocates directing ETS revenues toward industrial decarbonisation.
- Seeks a framework to support first movers and ensure balanced import/export competitiveness.
Price Impact
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