EU freezes extra-EU applicability of ETS
 

Yes, I know, it’s *that* topic. Although this ‘should’ go in R&N I suspect it would have a very short shelf-life there.

Climate Action Commissioner Connie Hedegaard has finally bowed to the inevitable and announced a moratorium on the application of the EU’s Emissions Trading Scheme to flights between the EU and the rest of the world. The rest of the world, mainly USA, Russia, China and India has been up in arms for the last year or so, threatening (and in some cases beginning to implement) retaliatory measures against EU airlines.

The deal is that ICAO has to come up with clear progress towards a global approach to aviation CO2 by the time of its autumn 2013 Assembly, otherwise ETS is back on the table.

European airlines still need to expend ETS credits for their intra-EU operations. Under the scheme which began at the beginning of 2012, approximately 70% of these are granted free, the rest must be purchased. Real money begins to change hands (i.e. from airlines to governments) in the spring of 2013.

Good

Its an ill wind that blows no smog.............