This report provides guidelines to EU and national policymakers and industry players on how to harness existing and forthcoming funding opportunities to decarbonise the EU steel industry and achieve the EU energy and climate targets.
The guidelines are developed based on the main findings of the report on Funding Opportunities to Decarbonise the EU Steel Industry . The report finds that the financial support relevant to the steel sector consists of 25 EU programmes (19 public and 6 private), 24 private funding opportunities (mainly from banks, including both conventional instruments and green bonds; 13 with specific tables) and 81 national and regional instruments (from 11 countries). All the main relevant financial instruments are analysed based on the information currently available, including blending and sequencing options, to enable a global view of funding to reach the 2050 European zero greenhouse gases (GHG) emission target.
Findings of the Funding Opportunities to Decarbonise the EU Steel Industry report and the Investment Needs report also show that the support ensured by the funding programmes dedicated to the investment needs of the EU steel industry is currently not sufficient. Considering the significance and key role of the European emissions reduction target for future generations and the high impact of the steel industry on overall CO2 emissions, an enormous effort is required from steel stakeholders.
Resource available: Guidelines and approaches for using funding in line with technological developments for EU steel industry