Can industry thrive in Europe? Reconciling the EU’s climate and growth agendas

For EU economy, the closely integrated Oil Refining and Chemicals sectors together represent 1.340.000 direct jobs and 1.2% of EU’s GDP. Both sectors are very much exposed to international trade and any additional, unilateral cost on production for EU installations is a handicap in the global race for competitiveness. Chemicals and Refining sectors therefore remain fully exposed to the risk of carbon leakage and the consequences of the revision of the ETS Directive.

Members of the European Parliament will have an important say in this revision process and FuelsEurope and CEFIC therefore took the opportunity to discuss the key elements of the Commission proposals and what it means for the industry.

CEFIC (the European Chemical Industry Council) and FuelsEurope (the association of European petroleum refining industry) raised the following key themes during the dinner-debate:

• The risk of carbon leakage for the refining and chemical industries;
• Repercussions of insufficient carbon leakage provisions on the entire value chain;
• Industry proposals on how to reconcile Europe’s growth and climate agendas;

 

It was a pleasure to welcome our members.