CO2 Prices Threaten German Manufacturers

When the German Steel and Metalworking Association (WSM) asked its member companies a few months ago, how they would react to CO2 pricing, the answers were terrifying. They ranged from “immediate investment freeze” to “downsizing” to “relocating investments abroad.” The answer from a hardening shop in North Rhine-Westphalia, with 75 employees, was particularly clear: They are planning to close up the company.