The European Steel Association (EUROFER) has reiterated its call for urgent modifications to the Carbon Border Adjustment Mechanism (CBAM), emphasizing the need to enhance both its effectiveness and efficiency. The demand follows discussions at a high-level conference in Paris, hosted by the European Commission alongside the French Ministries of Finance, Economy, and Climate Change. EUROFER highlights that simplifying CBAM should not come at the cost of its effectiveness, stressing that critical aspects such as resource allocation, export provisions, and coverage of downstream industries must be addressed to ensure a fair and robust mechanism.

EUROFER has raised concerns over the differing timelines set for CBAM improvements, particularly regarding regulatory simplifications versus measures that enhance its efficiency. While the European Commission is working on streamlining sustainability reporting through the Omnibus Package—potentially including CBAM—the association warns that legislative proposals tackling exports and downstream sectors will only be introduced next year. The steel industry also criticizes the absence of concrete plans to combat resource misallocation, which is crucial for attracting investments in decarbonization. Without swift reforms, the phased removal of free allowances under the EU Emissions Trading System could expose European manufacturers to increased carbon costs and drive production offshore, harming both the steel sector and the broader industrial landscape.

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