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CSV against ArcelorMittal trading emission allowances
Economics

CSV against ArcelorMittal trading emission allowances

07.05.2012 From our online archive
The CSV does not want ArcelorMittal to benefit from trading its emission allowances, while also receiving money from the state to pay for social measures, in light of the temporary closure of the Schifflange site.

(CS) The CSV does not want ArcelorMittal to benefit from trading its emission allowances, while also receiving money from the state to pay for social measures, in light of the temporary closure of the Schifflange site.

Head of the CSV parliamentary group Marc Spautz has said that ArcelorMittal could trade emission allowances of up to 83,000 tonnes of carbon dioxide, due to the production stoppages at the Schifflange site. The allowances could be worth between 420,000 and 520,000 euros on the market Spautz estimates.

Spautz has commented that either the state should benefit from the sale of the emission allowances or ArcelorMittal should pledge to invest the money into social measures for its employees. As part of the Lux 2016 agreement, unneeded steel workers are sent into early retirement or distributed to other steel sites. These measures are currently paid for by the state.

Should ArcelorMittal benefit from the state's financing more than other Luxembourg-based businesses, Spautz has suggested that the company could turn over the Terres Rouges site to the state in return. The state could then sell it on, for example to medium-sized businesses looking for working space.