European industry warns that weakening the EU's ETS could undermine competitiveness and investment

More than 100 European companies and investors have called on EU leaders to preserve the strength of the EU Emissions Trading System (ETS), warning that a weakening of the bloc's carbon market could damage industrial competitiveness and slow the transition to a clean industry.

In a joint letter addressed to EU heads of state and government ahead of the European Council summit on March 19-20, the companies said that Europe's industrial competitiveness remains under pressure and noted that the assessment presented in Mario Draghi's competitiveness report continues to reflect the current economic environment.

Signatories include major steel producers such as Salzgitter AG, Tata Steel, Outokumpu, Saarstahl AG, SSAB, Hydnum Steel and Stegra.

The industry emphasizes the importance of the underlying sectors

According to the signatories, Europe's economic security depends on strengthening both the fundamental sectors of industry and new clean technology industries.

They identified sectors such as steel, cement, chemicals, glass, and aluminum as major industrial pillars, along with technologies including renewable energy, batteries, electrolyzers, electric grids, and energy-efficient solutions.

Within this framework, the companies emphasized that the EU ETS remains the central mechanism supporting Europe's transition to a low-carbon industrial economy.

Companies warn against weakening ETS