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EU carbon data signals airlines may need to buy permits
April 6, 2013
EU carbon data signals airlines may need to buy permits
Airlines in Europe may need to buy carbon permits or pay fines after data showed the carriers’ emissions in 2012 exceeded their allocation of free allowances by about 30 percent, according to Bloomberg New Energy Finance.
Ryanair Holdings Plc, Europe’s biggest low-cost airline emitted 34 percent more than its free permits and EasyJet Plc’s U.K. account indicates it needs 25 percent more allowances while Aer Lingus Group Plc has a shortfall of 24 percent, based from preliminary data from the European Union.
Under the Europe’s carbon program, emitters must match emissions with EU allowances or United Nations offset credits by the end of April each year or pay a fine of 100 euros a ton. Polluters can top up their free allocation with allowances bought in the market.
Read more at Bloomberg.
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