European industrial giants urge EU to ease carbon market rules

Around 40 industrial companies have warned the European Union that rising carbon costs are threatening the continent's industrial base.

If the current system remains unchanged, production will be shifted abroad and factories will be forced to close, the signatories said. They include chemical groups BASF, Evonik and Covestro, as well as steelmakers Thyssenkrupp and ArcelorMittal.