The ETS requires companies in heavy industry to pay for the carbon pollution associated with their emissions and has been heavily criticized by several EU member states.

According to a document seen by Euronews, the four countries support the system but want clearer, simpler and as flexible as possible rules to protect industrial competitiveness.

They are calling on the European Commission to revise parts of its planned carbon market reforms, warning that some industries could face serious competitive pressure as a result of stricter emissions rules.

Minister of Economic Affairs and Communications Erkki Keldo (Reform) stressed that EU funds meant for industrial decarbonisation must take into account both "geographical balance" and "the needs of small economies".

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