ArcelorMittal, Thyssenkrupp, and Voestalpine jointly call for urgent reform of the European Union's carbon pricing system. They argue the current framework puts European steel at a competitive disadvantage of up to one hundred and twenty euros per metric ton against global rivals. The industry warns that without reform, European steel capacity could fall by up to forty percent by 2030. All three companies are actively investing in green hydrogen steelmaking as their long-term decarbonisation pathway.