Wolfgang Eder, CEO of Austrian steel-based technology company voestalpine on Monday called for more realistic climate change targets for the European steel industry as part of the 2015 International Climate Change Agreement.

In an interview with the Oe1 Mittagsjournal radio program, Eder, who is also Chairman of the World Steel Association, said he hopes the EU can set realistic climate protection targets at the summit in Paris in December 2015.

He added the limits currently envisaged are "technically impossible" for the steel industry to survive, and should the EU insist on sticking to these limits, the steel industry would have to "throw in the towel."

Eder said however he does not expect the steel industry will move elsewhere as he can see signs of a rethinking of policy toward more realistic target estimates.

He added it should be about the setting of realistic limits that are achievable by technical means, and cannot be "utopian."

At present the steel industry in Europe is already feeling the effects of a weak economy and low investment, the voestalpine head said, adding it is something Europe can only tackle through stimulating the economy, and that he hopes the European Commission Investment Plan can aid by providing start-up funding to attract more project investors.