On May 28 local time, Bulgaria, the Czech Republic, Greece, Poland, Romania and Slovakia jointly warned that the European Commission's plan to sharply reduce free CO2 allowances could drive cement, steel and chemical plants into bankruptcy. They said the emissions limits set by the Commission are technically unachievable. The six countries warned that if mechanisms within the EU carbon emissions trading system (EU ETS) do not become immediately more realistic, Europe faces deep deindustrializati

On May 28 local time, Bulgaria, the Czech Republic, Greece, Poland, Romania and Slovakia jointly warned that the European Commission's plan to sharply reduce free CO2 allowances could drive cement, steel and chemical plants into bankruptcy. They said the emissions limits set by the Commission are technically unachievable. The six countries warned that if mechanisms within the EU carbon emissions trading system (EU ETS) do not become immediately more realistic, Europe faces deep deindustrialization and a loss of strategic autonomy.