Europe’s Biggest Business Lobby Calls for Carbon Market Overhaul

Europe’s largest business lobby called for reforms to the region’s multi-billion euro carbon market to better support industry, piling on more pressure to amend the bloc’s main emissions-cutting tool.

The European Union’s Emissions Trading System, which puts a price on each metric ton of CO2 released into the atmosphere by industry, has come under fire in recent weeks for adding to the financial burden of companies already battling high energy costs and stiff global competition. The European Commission, the bloc’s executive branch, is due to review the market later this year.

BusinessEurope, a powerful trade group that represents 42 national ...