[SMM Stainless Steel Flash] EU ETS Reform Debate Intensifies: Big Corporations Benefit While SMEs Bear the Burden

Published: Jun 22, 2026 09:57

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Around 40 major German corporations including ArcelorMittal, ThyssenKrupp, and BASF have written to EU leadership calling for a fundamental rethink of climate policy, arguing that EU ETS carbon costs of around EUR 80/tonne are undermining European competitiveness while non-European rivals face little or no equivalent burden. Bavaria's Economy Minister Aiwanger called on the Commission to immediately suspend — and ideally abolish — the EU ETS. Critics note, however, that the same corporations have cumulatively received nearly EUR 464 billion in free ETS certificates since 2005, representing hidden subsidies never available to SMEs, who nonetheless help fund them. The EU Commission plans to present proposals for reorganizing emissions trading next month.

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