Airlines' carbon pollution bill $670 mn?

Singapore Airlines face a carbon pollution bill of 505 million euros ($670 million) for this year under a controversial EU emissions trading scheme, an analysis shows.
Carriers joined the scheme, which covers carbon emissions from European and foreign airlines flying into and from EU airports, on Jan 1.
The scheme has triggered widespread anger among foreign governments and carriers because the cost is calculated on the emissions from the point of origin, not just in Europe.
This has led to accusations the European Union is exceeding its jurisdiction in a row that risks escalating into a full-blown trade war.
China this week banned its airlines from participating without its permission and, along with India and the United States, warned of retaliatory steps.
The latest analysis by Point Carbon, which provides market intelligence, news and advisory services, calculated the cost based on the price of EU emissions allowances traded as of Monday at 8.56 euros and the latest emissions forecasts for carriers. Each allowance represents a tonne of emissions.
09/02/12 Express India

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Categories: Foreign Feb 2012, ndian Aviation- In General Feb 2012