A decision to exempt most of the global airline industry from the European Union Emissions Trading System (EU ETS) means that aviation is unlikely to play a role in boosting the fortunes of the flagging scheme in the near future, say market participants.
Since the EU ETS was launched in 2005, the continent’s economic malaise has created an oversupply of European Union Allowances (EUAs), leading to rock-bottom prices. Having stood at more than €30 ($41.50) per tonne of carbon dioxide equivalents
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