EU Industry Splits Over Emissions Trading Scheme Overhaul

European companies are concerned – in various ways – about the upcoming revamping of the EU's emissions trading scheme (ETS), the key instrument the bloc has been implementing since 2005 to curb emissions from heavy-polluting sectors including the cement, steel-making, and chemicals industries. As the European Commission is expected to propose an amended ETS plan on July 15, European companies that have invested in low-carbon operations fear a weakening of the scheme. Others, such as some chemicals and steelmaking giants, call for a…