15 March 2022
Hosted by MEP Maria Spyraki
Co-Chair of the European Parliament Intergroup on
‘Climate Change, Biodiversity & Sustainable Development’
WEBEX EVENT 10:00 – 12:00 (CET)
Achieving net-zero greenhouse gas emissions by 2050 for European energy-intensive industries is a major challenge for the European Union. EU industries, such as cement, steel, chemicals and non-ferrous metals, represent about 15% of the EU’s greenhouse gas emissions. They play a key role in terms employment and provide the European economy with materials which are indispensable to society.
Following the European Green Deal, many of these sectors and companies have voiced their ambition to reach carbon neutrality and reduce emissions. Yet, energy-intensive industries face specific challenges related to their decarbonization, related to the difficulties in reducing CO2 emissions as ‘hard to abate’ sectors, and the risk of carbon leakage. The EU regulatory framework will therefore play a critical role in providing these sectors with a robust business case to support decarbonization investments.
As part of its ‘Fit for 55’ package, the European Commission has issued proposals to introduce a Carbon Border Adjustment Mechanism (CBAM). This legislation will play a decisive role to strengthen the business case for decarbonization investments across the EU, but some of its key parameters still have to be defined. As a result, this event organized under the umbrella of the European Parliament Intergroup on ‘Climate Change, Biodiversity and Sustainable Development’ with the kind support of CEMBUREAU, aims at looking in particular at the following questions:
What is the progress achieved to date on industrial decarbonization and how can we go further?
How can the proposed CBAM support industrial decarbonisation in the EU and abroad, and effectively mitigate carbon leakage?
Going forward, how can we maintain a vibrant European industry, whilst ensuring that we decarbonize industrial processes?
Join as from 10.00 till 12.00 (CET)