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Steel industry: five billion euros for climate


The steel industry is one of the major sources of carbon dioxide. Minister of Economic Affairs Altmaier has now promised billions in aid for climate protection.

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The Thyssenkrupp steelworks in Duisburg-Marxloh


Jochen Tack / imago images

For the climate-friendly restructuring of the steel industry, at least an additional five billion euros are to be spent in the years 2022 to 2024.

This was announced by Federal Economics Minister Peter Altmaier (CDU) after a meeting with representatives of German steel manufacturers and IG Metall.

Altmaier referred to funding programs for the decarbonization of industry, the use of hydrogen and a pilot project for climate protection agreements.

"The transformation of energy-intensive industries such as the steel industry is an ongoing task," said Altmaier.

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Peter Altmaier promised the steel industry billions in aid

Photo: Xander Heinl / photothek / imago images

The steel industry accounts for a considerable share of the emissions of the greenhouse gas carbon dioxide in Germany.

In 2018, according to the Ministry of Economic Affairs, the industry emitted a total of 58.6 million tons of CO₂ with a crude steel production of 39.7 million tons.

Investments dependent on the climate protection judgment

Altmaier put the total investment required for the conversion to CO₂-free steel production in Germany at a total of 35 billion euros. Of this, around ten to twelve billion euros could come from public aid in the next 30 years. The exact amount depends on "when the goal of climate neutrality has to be achieved in detail," said Altmaier with regard to the climate protection judgment of the Federal Constitutional Court. The faster the conversion has to take place, "the higher the costs will be, which will be incurred in a shorter time."

The Federal Constitutional Court found last week that the Federal Climate Protection Act falls short.

The Karlsruhe judges therefore oblige the federal government to regulate the reduction targets for greenhouse gas emissions for the period after 2030 in more detail by the end of next year.

Constitutional complaints from several climate protectors, including Fridays for Future, were thus partially successful.

The steel economy has stabilized in the past few weeks.

Altmaier referred to the lowering of the EEG surcharge, the increasing electricity price compensation for companies and the CO₂ certificates made available to companies free of charge.

They would lead to billions in support.

That is justified because steel is a key industry.

hba / dpa

Source: spiegel

All business articles on 2021-05-03

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