Brussels (UPI) Mar 9, 2011
The aviation industry, which is scheduled to enter the EU Emissions Trading Scheme next year, will have to work with a carbon dioxide limit of 213 million metric tons, the European Commission said this week.
Brussels with the cap, which will drop to 208.5 million tons of CO2 per year in 2013, aims to fight global warming at a time when the aviation industry is booming. It will affect all flights to and from the 27-member bloc's airports. The limits are based on a benchmark of 220 million tons the sector emitted on average during the past years.
Emissions from aviation are growing faster than from any other sector and all forecasts indicate they will continue to do so under business-as-usual conditions," European Climate Commissioner Connie Hedegaard said in a statement, adding that "firm action" was needed.
Including aviation in the EU ETS, the world's biggest carbon market, means that airlines that exceed their CO2 limit will have to buy spare permits from more efficient businesses or face a fine. Brussels in 2008 decided to include airlines in trading after emissions from the sector doubled since 1990. They account for around 3 percent of the EU's total CO2 footprint.
The commission estimates that the EU ETS by 2020 will reduce plane CO2 emissions by 183 million tons per year, twice the annual output of Austria and a 46 percent reduction compared with business as usual.
"Some of these reductions are likely to be made by airlines themselves," the commission said. "However, participation in the EU system will also give them other options: buying additional allowances on the market -- i.e. paying other participants to reduce their emissions -- or investing in emission-saving projects carried out under the Kyoto Protocol's flexible mechanisms."
Airlines have warned that including aviation in the EU ETS will drive up air fares, sap profits and damage the overall competitiveness of the European aviation industry.
The commission said the decision would have a "minor impact" on fares. The price for a round-trip ticket from Brussels to New York, based on current carbon prices at roughly $20 per allowance, would increase by less than $17, Brussels said.
The decision foresees 82 percent of allowances to be allocated for free, 15 percent auctioned, and another 3 percent placed on hold for new airlines or those that expand their business.
The EU ETS covers emissions from power plants, oil refineries and steel works, as well as factories making cement, glass, lime, bricks, ceramics, pulp, paper and board. It generated sales of more than $120 billion in 2010, with most allowances traded in future markets.
Brussels urged member states to improve security of trading platforms after a series of frauds last year. Citing a lack of money, several governments didn't implement changes.
In January, 2 million carbon allowances worth an estimated $38 million were stolen in the biggest fraud targeting the EU ETS.
Share This Article With Planet Earth
Aerospace News at SpaceMart.com
Munich, Germany (UPI) Mar 9, 2011
European defense giant European Aeronautic Defense and Space Co. returned to profit in 2010 on strong jet sales at its subsidiary Airbus, reinstating a dividend and forecasting even greater sales in the year ahead. After an abysmal 2009, EADS posted a higher-than-expected net profit of $769 million in 2010, the company said Wednesday. New orders in 2010 rose to $115 billion, an ... read more
Australian firm to open Malaysian rare earths plant|
Rare earths to be refined in Malaysia
YouTube growth sparks hiring binge
Nokia Siemens delays Motorola purchase indefinitely
LockMart Wins Role On Navy C4ISR Services Contract
ONR Moves A Modular Space Communications Asset Into Unmanned Aircraft For Marines
Northrop Grumman Next-Gen FBCB2 System Approved For Fielding
Boeing To Demonstrate Aviation Command And Control Subsystem For US Marine Corps
New Dawn Arrives At Spaceport
ISRO Likley To Launch Resourcesat-2 In April
United Launch Alliance Launches Second OTV Mission
USAF Launches Second X-37B Test Platform
Fred Meyer Stores And ECOtality To Install Blink EV Charging Stations
Skyhook's Location To Be Embedded In Next Gen Portable Entertainment System
UK scientists warn of 'dangerous over-reliance' on GPS
Improved Method Developed To Locate Ships In Storms
EU sets CO2 limit for airlines
EADS returns to profit on jet sales
Cathay Pacific orders 27 Airbus and Boeing planes
Boeing wins hefty plane deals in China
NIST Electromechanical Circuit Sets Record Beating Microscopic Drum
New Generation Of Optical Integrated Devices For Future Quantum Computers
JQI Physicists Demonstrate Coveted Spin-Orbit Coupling In Atomic Gases
New MIT Developments In Quantum Computing
GOCE Delivers On Its Promise
NASA reels from climate science setbacks
NASA's Bolden defends Earth science
New Day Dawns For Satellite To Study Earth's Ozone Layer
Battle on paradise Philippine island
Philippines disposes of Cold War-era US bombs
Death sentences for Indian train burners
Pollution a threat to China's growth
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement|