Europe's Energy Transition To Require Higher Quantities of Metals
Meantime, there exist huge potentials for further reduction of carbon footprint, with the support of breakthrough technologies and right framework conditions.
SEATTLE (Scrap Monster): Europe’s energy transition will require higher quantities of metals, says a study commissioned by the non-ferrous metals industry. The report titled ‘Metals for a Climate Neutral Europe- A 2050 Blueprint’ has been prepared by the Institute for European Studies (IES) at the Vrije Universiteit Brussel (VUB).
Europe’s metals ecosystem has been a frontrunner industry in the transition to climate-neutrality, with arounf half of Europe’s base metal production coming from recycled sources. The industry has achieved 61% overall GHG emissions reduction since 1990. Meantime, there exist huge potentials for further reduction of carbon footprint, with the support of breakthrough technologies and right framework conditions.
Metal being a global traded commodity, the sector is obviously exposed to significant levels of international competition. The significant growth of non-ferrous metals production elsewhere in the world leads to possibilities of EU production being replaced by more carbon-intensive non-EU production.
The transition of Europe’s power sector poses specific regulatory challenges for the metals sector. A comprehensive and dedicated industrial strategy could well secure the 2050 future of the sector, the report says. The metals industry is likely to be hit by another wave of curtailments, provided steps are not taken to address escalating energy prices, it added.
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