Green hydrogen steel firms push back against calls to weaken EU carbon trading system
hydrogeninsight.comA group of European steel companies, including Salzgitter and SSAB, have publicly opposed efforts to weaken the EU Emissions Trading System. These firms, most of which have invested in green hydrogen based steel production, argue that keeping carbon prices robust is essential for the bloc's long term competitiveness. The letter appears to be a direct response to other steel giants that had previously called for a weaker ETS. This is a clear signal that companies betting on green hydrogen need a strong carbon price to make their investments viable. If the ETS is weakened, the economics of hydrogen based direct reduced iron (DRI) projects could fall apart. The article is worth reading for anyone tracking how carbon market design directly affects industrial decarbonization timelines in Europe.