Wednesday, April 17, 2013
Earlier this week the EU Parliament voted against a proposal intended to increase the price of carbon permits. Some observers are concerned that the falling prices of permits will render the trading scheme useless and effectively end meaningful EU-wide efforts to prevent climate change, at least for the near future. The vote carries important implications for the regulation of aviation emissions. It hard to imagine that a Parliament unwilling to make changes to keep the scheme functioning properly within the EU will be able to muster the political will to reinstate the scheme's application to foreign air carriers once the one-year suspension ends in 2014.