EU Commission to Propose Amended Emissions Trading Scheme Plan on July 15 as Industry Groups Seek Cost Relief

The European Commission is scheduled to propose an amended EU Emissions Trading Scheme plan on July 15, 2026. The scheme has operated since 2005 to limit emissions from cement, steel-making, and chemicals sectors. Sweden-based steelmaker SSAB, which has invested billions of euros to replace coal with hydrogen, warned that any weakening of the scheme could benefit firms that have not made similar investments.

Helena Norrman, executive vice president of communications at SSAB, stated that companies that have not invested might actually get an advantage. Chemicals company BASF has taken a different stance. Its chief executive Markus Kamieth told the Financial Times in February 2026 that the EU is the only region in the world where industries must pay for CO2 emissions.

BASF has warned that continued rising carbon prices would kill the European chemicals industry, and its head previously described the current ETS as obsolete. Last month BASF joined ArcelorMittal, ThyssenKrupp, and Voestalpine in a letter to the EU calling for immediate action to halt the escalation of ETS-related costs. The letter was seen by Politico.

European companies that have invested in low-carbon operations fear a weakening of the scheme.