Outokumpu backs European Union industrial policy proposal
Stainless steel producer Outokumpu has voiced support for the European Union's Industrial Accelerator Act, a legislative proposal aimed at bolstering regional industrial capacity and decarbonization.
Outokumpu has expressed support for the Industrial Accelerator Act (IAA) presented by the European Union, which seeks to strengthen Europe's economic security and industrial competitiveness amidst shifting geopolitical dynamics. The proposal focuses on fast-tracking decarbonization across energy-intensive sectors, which the company views as a necessary alignment of climate policy with industrial strategy.
The steel manufacturer strongly endorses the proposed "Made-in-EU" requirements and European preference in public procurement. By prioritizing locally produced, low-carbon materials, the company argues that the EU can reduce reliance on imported emissions and protect its industrial base, which is critical for renewable energy, transport, and security infrastructure.
To improve the effectiveness of the act, Outokumpu has urged European authorities to implement a standardized low-carbon steel label to provide transparency for buyers. Furthermore, the company recommends that specific criteria be developed for stainless steel manufacturing processes and that the "Made-in-EU" requirement should explicitly cover steel components to prevent high-emission parts from being imported and integrated into European end-products.
The proposal marks a broader effort by the EU to defend strategic industries as they navigate high energy costs and global competition.