Top Posts
Report: Nigeria, others may lose $300 billion, 49m...
Pope Leo hits out at climate change critics
Nigeria insurers prepare to global delegates on climate...
Energy Dept. asks employees not to use words...
Protesters seek $5tr payment from fossil fuel companies
Borno govt, NGOs demand funding on climate change...
Lagos rolls two-year flood plan to integrate lakes,...
UN official says climate change displaces up to...
UN ends high-level week with calls for peace,...
Ahead of COP30 conference, new national climate plans...
EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World
World

EU Metals Industry requests assistance for rival US green-energy package

by Matthew Atungwu January 25, 2023
written by Matthew Atungwu January 25, 2023
534

Top metal producers have urged the European Union to follow the White House’s lead in providing financial assistance to assist the bloc in maintaining control of raw materials critical to the green-energy transition.

Eurometaux- which represents major European producers including Glencore Plc, Boliden AB, and Aurubis AG- urged the EU to be inspired by President Joe Biden’s Inflation Reduction Act, which includes billions of dollars in subsidies to spur domestic investment in electric vehicles and renewable energy.

EU leaders will meet in Brussels next month to discuss a response to the contentious US act, with some advocating for a “made in Europe” approach to help domestic businesses. French President Emmanuel Macron has called for an EU package worth 2% of GDP to compete with the $370 billion US plan.

Read also: Slovakia’s Fuergy raises €16 million private equity to expand energy

“The US Inflation Reduction Act, while discriminatory, has shown what a proactive clean tech industrial policy could look like,” Evangelos Mytilineos, president of Eurometaux and CEO of Greek aluminum company Mytilineos, said in a letter to the European Commission on Tuesday. “We in Europe should be inspired by its example, and deliver more carrot and less stick to our industries, especially in today’s energy crisis.”

Eurometaux proposed five key measures to help develop the industry, including the fast-tracking of clean-energy projects and tax credits to support strategic metals production. It also reiterated calls for measures to address high electricity prices, which have led to sharp cutbacks in metals production in the region.

While power prices have retreated sharply in recent weeks and some smelters are ramping output back up, Eurometaux said the industry will continue to struggle as energy scarcity continues in future years. It called for the EU to extend temporary state-aid measures that are set to expire at the end of the year after being introduced in response to the crisis.

This story was adapted from Bloomberg.

EUGreen energyIndustryMetal
0 comment 0 FacebookTwitterPinterestEmail
admineconai

previous post
Slovakia’s Fuergy raises €16 million private equity to expand energy
next post
EU leaders to back new funding for green industry in Feb -draft

Related Posts

Pope Leo hits out at climate change critics

October 3, 2025

Protesters seek $5tr payment from fossil fuel companies

October 1, 2025

UN official says climate change displaces up to...

September 30, 2025

UN ends high-level week with calls for peace,...

September 30, 2025

China announces plans to cut greenhouse gas emissions...

September 25, 2025

China locks down as Super Typhoon Ragasa nears...

September 24, 2025

Trump says climate change ‘greatest con Job in...

September 24, 2025

PERILS sets final industry loss estimate for 2024...

September 22, 2025

Guterres says 1.5C climate warming goal could fail

September 22, 2025

Australia sets 62-70% GHG emission reduction target by...

September 22, 2025

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

  • Facebook
  • Twitter
  • Instagram
  • Linkedin
  • Bloglovin
  • Vimeo

@2021 - All Right Reserved. Designed and Developed by Eco-Nai+

EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World