EU Reveals Details Of Airline Carbon Credit Scheme
Because of increased costs for air carriers, business travelers to Europe likely would pay higher airline fares after implementation of a European Union requirement for airlines to buy carbon credits to offset their emissions.
Last year, the EU proclaimed that most flights touching down in Europe would be covered by a trading system for emissions of greenhouse gases.
With the EU pairing each airline serving Europe to a single nation that would collect payments, it appears Britain would gain the most, based on the number of daily international flights there.Â France and Germany would benefit to a lesser degree, according to the International Herald Tribune.
The International Air Transport Association, an aviation lobby group, claims the system will cost nearly $5 billion each year to comply, according to the article. The United States reportedly is withholding comment on this issue as the Obama administration reviews climate change policies.
Critics claim the EU carbon trading system is not reducing carbon emissions. Germanyâ€™s Green Party, for instance, insists that despite the many benefits of carbon trading, investing in renewable energy is the most cost-efficient way to cut carbon.
Last June, Air France-KLM derided the EU carbon trading scheme as unfair.
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