According to the steel maker, the 2010 scheme should allow it to remain competitive, so it can create revenue to fund future carbon reduction programs.
Australia’s largest manufacturer and steelmakers fears the ETS would become a “deadweight burden” without a technical solution to the emissions problems. It claims to have already developed a list of projects which would help it reduce its emissions.
However, the company claims funding for the projects would only be possible if it had the cash from being competitive.