Bailouts, sky-high borrowing rates and a pressurized Euro dominate the news from Europe. But the financial crisis does not seem to slow down the Emission Trading Scheme. Whilst the news has shifted to report only on international trade from and to Europe there are lots of developments that require a close watch by the logistics industry, especially for Hong Kong where the logistics sector is so important. In 2012 the international aviation industry faces paying for emissions outside of their yearly set allowances based on the 2004-2006 benchmark years when flying to Europe. The international airlines have stepped up to fight the new regulation together with new players in the growing aviation market.
The court case initiated by American Airlines to exclude foreign airlines from the trading scheme seems to have failed and meanwhile India with its growing aviation industry has stepped up to join the fight. The International Civil Aviation Organization (ICAO) has now publicly stated its opposition to the European Emission Trading Scheme. It is time for an update.
Please find the link to the complete article below:
EU ETS update
Monday, December 5th, 2011