Low-carbon ‘green’ aluminium can help power Europe’s COVID-19 recovery package and the EU’s climate transition strategy, En Group executive chair Lord Barker said at a meeting Wednesday.
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With the EU needing to invest an additional EUR 470 billion every year if it is to meet its climate and energy goals, this investment – an important part of Europe’s COVID-19 recovery plan – will help manufacture electric cars, install renewable energy as well as build more energy efficient buildings, said Lord Barker.
Aluminium is a vital component of these products because it is super-lightweight, durable and recyclable.
The En Group, the world’s leading international vertically integrated aluminium and power producer, is calling for the elimination of tariffs on low-carbon imports of this climate-friendly raw metal as an urgent measure that can help European manufacturers grow a global market lead in the production of green goods and products.
“The answer is to eliminate import tariffs for low-carbon primary aluminium,”, said Lord Barker, “giving Europe a helping hand when it needs it most. This would send a clear signal that the EU means business when it comes to the green transition.”
On Wednesday, the En Group / RUSAL published its ‘Green Aluminium Vision’, setting out its commitments to lead the industry into the low-carbon economy by developing a new asset class of ‘Green Aluminium’.
The vision recommends a separate custom code for low-carbon raw aluminium. A recent study estimated the total cost of import tariffs on Europe’s downstream industry was as much as EUR 20 billion over the past 20 years.
Eliminating tariffs for low-carbon raw aluminium would save industry across Europe tens of millions of euros a year, according to the report, and also help the industry reduce the carbon content of its products. The EU aluminium processing industry employs more than 200,000 people across the continent with 75% of primary raw aluminium being imported.
