The European Commission announced on Friday its approval of €1.3 billion ($1.41 billion) in state aid from Germany to support steel producer ArcelorMittal in its efforts to decarbonize a portion of its production processes.
Stating that the aid was essential to promote the production of environmentally friendly steel, the commission deemed it necessary and fitting. It emphasized that the anticipated positive impacts, particularly in terms of reducing carbon emissions, outweighed any potential negative effects on competition and trade within the EU
Source and Credit: whtc.com
