EU aviation emission targets seen too low; reviewed 2013
The Justice and Home Affairs Council of the European Union has announced that aviation will be included in the Emissions Trading Scheme (ETS) from 1 January 2012, following a meeting in Luxembourg on October 24.
The Council has set out that 85% of the allowances will be allocated free of charge, based on a simple benchmark, and the remaining 15% auctioned until 2020.
The target is to lower aviation emissions by 3% from 2004-2006 levels by 2012, rising to 5% by 2013.
The reduction target and 15% auctioning restriction have been widely criticised as setting too low an initial target, particularly in
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Regulation
Why watering down resolution plans is a bad idea
Bank failures are inevitable; banking crises are not
BIS’s Hernández de Cos on AI, non-bank risk and tokenisation
General manager talks about how the BIS is navigating a complex global environment
‘European SEC’ no silver bullet for growth
EU policymakers hope a single, centralised supervisor will help rev up Europe’s economy but critics are mustering
Permanent FRTB reforms seen as vital for IMA adoption
Temporary relief granted in June has done little to encourage internal model use in Europe
How to ensure the next Credit Suisse or SVB fails ‘well’
Regulators are planning changes to resolution rules after criticism that living wills were ignored in previous bank collapses
Asian firms waiting on exemptions from UST clearing mandate
Hoping for relief on extraterritoriality, 51% of Apac firms have yet to start compliance programmes
Already under FRTB, some banks hope for modelling reprieve
Risk Live: BMO and UBS opted for SA, but believe regulators could still opt to follow softer US rules
Regulators better prepared for next Credit Suisse, says SRB head
FSB strengthening guidance on international co-operation, but EU needs more mutual support
