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More than 100 European companies and investors have urged EU leaders not to weaken the Emissions Trading System, warning that any dilution of the carbon market could damage industrial competitiveness and slow clean-industry investment. Ahead of the March 19-20 European Council summit, the signatories said the EU ETS remains a key tool for supporting decarbonization across foundational sectors such as steel, cement, chemicals, glass and aluminum. Major steel producers including Salzgitter, Tata Steel, Outokumpu, Saarstahl, SSAB, Hydnum Steel and Stegra are among those backing the appeal. The industry argues that weakening the ETS would create uncertainty for companies already investing in low-carbon technologies and could undermine Europe’s position in emerging clean-industrial sectors. Instead, businesses are calling for better use of ETS revenues, stronger support for electrification, affordable clean power, improved grids and effective implementation of CBAM to protect Europe’s industrial base during the green transition.
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