Ten European Union countries, including the largest economy of the union, Germany, are demanding a revision of the emissions trading system (ETS) to adopt a more lenient approach towards industry. They emphasize that the reduction of carbon emissions should not occur at the expense of industrial decline, a sentiment reflected in their statement made late Wednesday. This appeal underlines the countries' concern over balancing environmental goals and economic sustainability in a challenging market environment.

The countries have called for a reassessment of the EU's emissions trading system to improve the EU's competitiveness while ensuring an effective price signal, predictability, market stability, and protection against excessive price fluctuations. The statement was made by members of the so-called Friends of Industry group, which convened in Brussels following a meeting of EU economic ministers. This group represents a collective view among several member states regarding the need for modifications to current environmental policies that impact industrial operations.

The statement encompasses not only Germany but also Austria, the Czech Republic, France, Italy, Luxembourg, Poland, Portugal, Slovakia, and Spain, all part of this initiative. They have urged the European Commission to take a more pragmatic approach towards free emission allowances for industry, suggesting a significant policy shift ahead as the EU looks to balance its climate commitments with the economic realities facing its member states.