Prime Minister Luís Montenegro and four other EU leaders have written to the President of the European Council urging against weakening the EU Emissions Trading System (ETS) amid calls for its suspension due to rising energy prices. The leaders of Portugal, Spain, Sweden, Finland, and Denmark argue that undermining the ETS would damage investor confidence and hinder the transition to a decarbonised economy. While acknowledging that minor technical adjustments to reduce volatility may be appropriate, they stress that the integrity of the system must be maintained to ensure energy autonomy and long-term competitiveness.