BRUSSELS – In a major intervention aimed at the highest levels of EU governance, Euromines and a coalition of Europe’s energy-intensive industries (EIIs) have issued a stark warning: without immediate policy intervention, the continent faces “irreversible deindustrialisation.”
The joint statement, released on 2 February 2026, comes at a critical juncture for European manufacturing. Highlighting a “deteriorating fast” situation, the industry group revealed that production levels in some sectors plummeted by as much as 40% in 2025.
Key Alarms: A Sector in Retreat
The coalition, representing a turnover of €1.5 trillion and 6.6 million employees, argues that the backbone of Europe’s strategic autonomy—including steel, cement, chemicals, and mining—is crumbling under three main pressures:
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Sky-High Energy: Costs remain twice as high as pre-crisis levels.
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Crushing Carbon Prices: CO2 prices are now roughly four times higher than in 2020, far outpacing international competitors.
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Global Trade Headwinds: Unfair trade practices, exacerbated by aggressive US tariffs and state-induced global overcapacities, have left European firms unable to compete.
“In 2025 alone, an estimated 200,000 jobs were lost in these sectors. This is a critical situation at a time when self-sufficiency is becoming increasingly important,” the statement warns.
The “Four Pillars” of Survival
As EU leaders prepare for an informal summit on competitiveness on 12 February, the industry is demanding a “Clean Industrial Deal” with four immediate priorities:
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Freeze Carbon Cost Hikes: A total pause on any planned increases in carbon costs for 2026. The group warns that upcoming reductions in “free allocations” could slash support by up to 34%, a move they label “detrimental.”
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Target €50/MWh Energy: Aligning with the landmark Draghi Report, industries are calling for all levers to be pulled to bring industrial electricity costs down to €50/MWh to make electrification viable.
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Aggressive Trade Defense: Rapid deployment of Trade Defence Instruments (TDIs) to counter “economic coercion” and non-EU imports produced under lower environmental standards.
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“Proudly Made in Europe” Demand: New rules in public procurement to prioritise European-made products, ensuring that the EU’s high environmental and social standards are reflected in market demand.
Looking Ahead
The timing of this statement is no coincidence. It serves as a direct “input” for the 12 February retreat at Alden Biesen Castle, where European Council President António Costa has invited former Italian PMs Mario Draghi and Enrico Letta to discuss a radical overhaul of the Single Market.
With carbon prices projected by some analysts to reach €100/t in early 2026, the industry’s message is clear: Europe cannot afford to pay for tomorrow’s climate goals by bankrupting today’s industrial base.
