German Finance Minister Lars Klingbeil has proposed a “steel summit” with companies, trade unions, and state governments to safeguard jobs, after ArcelorMittal Europe canceled green steel projects in Bremen and Eisenhüttenstadt last week. 

Citing high energy costs and rejected state subsidies, the firm abandoned plans to convert its mills to climate-neutral production, despite Germany’s offer of EUR 1.3 billion in aid. 

Klingbeil stressed the need to showcase prospects for “green steel” to keep Germany an industrial hub, urging talks on funding durations, designs, and transitional options.