Spain did not want to sign a letter in which 12 EU member states (Germany, France, the United Kingom and Italy were among them) asked the European Commission to intervene in the carbon dioxide emissions market in order to cause a price hike for carbon credits and penalize pollution.
Supply of emmissions rights outstrips demand, and according to the signing nations, is a threat to the carbon credit markets. Spain has not supported this initiative, becuase it will put pressure on industry in the country, which has already suffered significant threats to its ability to compete with other national industries thanks to rising energy prices.
The letter clearly asks the EU to influence markets by influencing energy prices, which is a questionable practice that would interrupt the markets' ability to operate freely.
