Las Aldeas-Inversores   Investment Management   Contact Us   Escrow Services   Las Aldeas-Progress   Real Estate Services   Las Aldeas-Work  

保持投

中国

 
Login Investment   Real Estate   Law Firm   International   Our Projects   Services   Contact Us    
 
 
 

 

 

v

 

   Partnership Proposal

Leasing Opportunities

Client Login

ClikFIX Tenant Services

Former CBRE Leader    Launches Online REIT

 

 

Home

Contact

Links

Careers

Site Map

Français

Partnership Proposal

 

The aviation sector is to be brought into the European carbon trading market from 2012, following an agreement reached on 26 June by the EU Council and the European Parliament. The agreement was formally approved by the Council and the EP at its plenary session on 9 July.

Under the deal, emissions trading will apply to all flights departing from or landing in the EU, including intercontinental flights, from 2012. The provision covers airlines from non-EU countries operating flights to and from EU territory. The directive obliges the EU to negotiate an international agreement to reduce greenhouse gas emissions by the aviation sector, with bilateral agreements particularly with the US being a possible first step.

The reduction target will be calculated on the basis of average annual emissions between 2004 and 2006. In 2012 (first period), airlines will have to cut emissions by 3 per cent, and from 2013 by 5 per cent. The targets for the following years will be determined under the general revision of the ETS.

The directive also establishes that 85 per cent of quotas will be allocated freely and the remaining 15% will be auctioned. The income raised from auctions is to be reinvested in climate change mitigation, research on clean aircraft, anti-deforestation measures in the developing world and low-emission transport.

Ryanair boss Michael O'Leary responded to the agreement with fury, slamming the decision as an "extraordinary" move which "won't have any effect at all on the environment, but will further damage European airlines at a time when oil is already US$140 a barrel".

Asked how much the measures would cost Ryanair, an airline spokesman said the company has "not yet studied the details" of the proposals as, "we have far more pressing issues to deal with, such as oil".

The US, meanwhile, is threatening a legal challenge to the EU's right to impose a carbon trading system on American airlines flying in Europe.

Reported by Europolitics Energy and the Irish Independent

Contact
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 
.
 

BP sues Russian partner in TNK-BP oil venture for US$362m ] Buildings ] Conoco to sign Abu Dhabi sour gas deal ] China Energy Group ] [ EU Council and parliament bring Aviation into the European carbon market ] European Commission wants lower VAT ] France’s Total quits Iran gas deal ] industrialfuelpower ] Industry ] More US coal moving to Asia ] Oil prices hold steady at US$136/bbl ] OPEC president warns no end to oil price rises, Iran threatens to block oil route ] Quicksilver to buy Barnett Shale natural-gas assets ] Rio Tinto reaches agreement to sell its ] Siemens installs two test wind turbines with direct drive technology ] With-profits investors could avoid exit penalties ]

Weekly News ] Staylant Capital ] Fuels and Power ] World Petroleum Congress ] Forex ] Mutual Funds ] Retirement Plans ] Exporters ] Impact China ] Finance ] Business opportunities ] News ] Links ]