The article reports on the current struggles of the energy-intensive industry in Europe, underscored at a recent European industrial summit held in Antwerp on February 11. Celebrating the second anniversary of the Antwerp Declaration, the summit focused on crucial issues such as the necessary support for this sector to maintain competitiveness amidst increasing operational costs and financial burdens due to regulatory requirements. The European chemical industry council (CEFIC) organized the event to address these pressing concerns.

Since 2022, the European Union has witnessed a sixfold increase in the closure of production facilities within the energy-intensive sector, leading to a 9% reduction in overall production in the EU, resulting in approximately 20,000 jobs lost. Industrialists argue that these closures are largely the result of significant financial burdens stemming from compliance with reporting standards and costs associated with transformation efforts to meet changing market conditions and geopolitical tensions. The article critiques the European decision-makers for their perceived lack of responsiveness to the voice of industry stakeholders who are advocating for more favorable policies to ensure survival and competitiveness.

In addition, the article emphasizes the importance of the industry in ensuring the continent's overall security while questioning whether EU policymakers are adequately listening to the concerns and needs of entrepreneurs in this sector. It raises critical questions about the viability of the energy-intensive industry moving forward without necessary policy adjustments and greater support from the EU, suggesting that immediate action is necessary to stabilize this vital sector of the economy.