The EU's General Court on March 1 rejected an action filed by the world's largest steelmaker ArcelorMittal against the EU's so-called emission trading system.
According to this system established by EU law, companies can trade emissions freely depending how far they fill their emission quota.
The court said that the company's argument that the directive damaged its right to do business and to own property were "inadmissible". The company's attempt to seek damages was also rejected.
Arcelor before its merger with Mittal in 2006 had brought an action before the court seeking annulment of certain articles of the emission trading directive and compensation for the damages caused by the adoption of the directive.
ArcelorMittal also said that the directive breaches several principles of EU law and discriminates against steelmakers by excluding other industries such as aluminum and chemical makers that may have even higher emissions.
The Court of Justice, the EU's top court, had already held that the directive does not infringe the principle of equal treatment compared to other industries in a separate verdict in 2008.
As reported by news sources, "We remain concerned that the European trading system might put an excessive strain on the EU steel industry's competitiveness and threaten steelmaking jobs," said ArcelorMittal spokesman Jean Lasar regarding the issue.
The company can appeal the ruling within two months.