European steel and chemical giants demand pause to EU carbon marketExecutive summary: Four major European steel and chemical companies have asked the EU Council President to suspend the EU Emissions Trading System, calling it outdated. The ETS is a cornerstone of the EU's climate strategy; a suspension would delay emissions pricing and could affect sector investment decisions. Major steel and chemical producers addressing the EU Council President. EU officials are expected to respond in the coming weeks, potentially revising ETS rules or addressing industry concerns.Four major European steel and chemical companies have written to the EU Council President urging a suspension of the EU Emissions Trading System (ETS), stating the scheme is no longer timely. The request reflects growing industry pressure as the ETS enters its third trading phase and faces scrutiny over competitiveness and carbon leakage risks. The letter signals potential political friction ahead of upcoming EU climate policy reviews. No formal response has been released yet.Connected developmentsKevin Warsh's Fed debut comes at a pivotal moment for global monetary policyOpen the full case file on Beyond →
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