The European Commission says airline manufacturers should aim for 40 percent cuts in C02 emissions from present levels because of new technology available by 2015, Dow Jones reports

The  target is part of the commission’s recently announced EUR1.6 billion public-private “Clean Sky” plan to help the air transport industry develop environmentally friendly technology for planes.

In addition to the 40 percent cut in CO2, the commission said it was aiming for a 60 percent cut in Nitrogen Oxide emissions and a 50 percent reduction in noise.