ArcelorMittal, Thyssenkrupp, Voestalpine Urge Europe to Pause Rising Emissions Trading Costs
14 Articles
14 Articles
In a letter from the EU, 40 German companies demand a rethink in climate policy and criticise the rising costs of emissions trading. "It's embarrassing enough that they have to write at all," says Bavaria's Minister for Economic Affairs, Hubert Aiwanger.
The EU must change the Emissions Trading System (ETS) very quickly, otherwise the European steel industry will shrink by up to 40 percent and millions of people will lose their jobs. Without changes to the ETS, steel production costs in Europe will increase by 50 percent.
The EU's central climate protection instrument is to be put to the test. Prior to the reform, a number of well-known companies are in position. In a letter to the EU top, it warns against job losses.
The EU's central climate protection instrument is to be put to the test. Prior to the reform, a number of well-known companies are in position. In a letter to the EU top, it warns against job losses.
They are in favour of the EU's CO2 emission reduction targets and have invested a lot, they say. But now it costs too much: ArcelorMittal, Voestalpine and Thyssenkrupp Steel have joined forces this week to launch "a joint call for urgent and pragmatic reform of the EU's trading system [...]
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