Today, the European Parliament is scheduled to vote on amendments to the Carbon Border Adjustment Mechanism (CBAM), including proposals aimed at extending its scope to additional steel-intensive products.
Ahead of the vote, the European Steel Association (EUROFER) called on Members of the European Parliament (MEPs) to address what it describes as remaining loopholes in the current CBAM framework.
According to EUROFER, while imported steel is subject to carbon-related obligations under the CBAM, many products manufactured from steel remain outside its scope. The association argues that this creates an uneven competitive environment, allowing imported manufactured products to enter the EU market without facing equivalent carbon costs.
EUROFER supports amendments adopted by the European Parliament’s Committee on Industry, Research and Energy (ITRE) that would extend CBAM coverage to additional steel-intensive products.
Commenting ahead of the vote, Axel Eggert, Director General of EUROFER, stated:
“Europe’s steelmakers are investing billions to produce cleaner steel, but they cannot make that transition without a level playing field. MEPs have the opportunity to strengthen CBAM so that investing in low-carbon steel production in Europe makes economic sense.”
In addition to extending CBAM to more steel-intensive products, the European Parliament is also considering amendments relating to stainless steel production. These include proposals to account for emissions associated with ferro-nickel and nickel pig iron used in imported stainless steel, as well as measures intended to close potential loopholes linked to inward processing arrangements.
The outcome of today’s vote will contribute to shaping the future evolution of the CBAM framework as the European Union continues to balance climate objectives with industrial competitiveness.
