The transformation to clean production technologies requires unprecedented capital investment and will result in significantly higher operational cost during the transition. The financial needs until 2030 are estimated today at around €30 billion for capital expenditures (CAPEX) and €55 billion for operating expenditures (OPEX), totalling more than €85 billion. The signatories of the pact call on European and national authorities to review their spending and dedicate financial resources for support of industrial scale projects for decarbonisation.
• Launch as soon as possible dedicated calls of the Innovation Fund for CBAM sectors, as foreseen by the ETS Directive.
• Focus the earmarking of ETS revenues for the decarbonisation of steel and other energy-intensive industries.
• Work on stimulus packages at Member State and EU level to kick-start industrial production with social conditionalities for all public funding.
• Re-assess the fiscal framework for the upcoming years to ensure that public investment in the steel and basic metals sectors is possible in all EU Member States.
• Ensure that EU budget and other EU funds secure adequate funding for all industrial regions exposed to unprecedented social and economic challenges due to the climate transition.