The EU's Ambition on Climate and Emissions Reductions Hurts Industry

There's been a common complaint of industry over many years that the European Union's ambition on climate and emissions reductions is going to hurt industry. And so the risk that companies talk about is something called carbon leakage. So if you're producing a ton of steel in the EU you might shift that to another country with lower emissions reduction ambitions. Carbon emission costs become prohibitive and voila these sectors suddenly start investing in decarbonization.