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 7.46 million tons of carbon dioxide in 2012, or 34 percent more than than its free permits, preliminary data from the European Union shows. EasyJet Plc’s UK account indicates it needs 25 percent more allowances, while Aer Lingus Group Plc has a shortfall of 24 percent, the information shows.
Airlines are investing in more efficient technology even as the cost of carbon permits in the EU’s emissions trading system, or ETS, fell 25 percent in the past year. Dublin-based Ryanair said it bought new fuel-efficient aircraft that cut greenhouse- gas emissions by 50 percent, while EasyJet is reducing the weight of its seats and service carts.
“The scheme is designed to create a shortfall to incentivize airlines to operate more efficiently and top up” allowances, Paul Moore, a spokesman for EasyJet in Luton, England, said in an e-mailed response to questions. “EasyJet has long been a supporter of the emissions trading system and will fully comply with its obligations.”
Click here to read the full story.
