CARBON IN THE NEWS
WEEK 4 2012
More price rises likely in row over emissions tax
Growing worldwide opposition to the European Union's Emissions Trading Scheme (ETS) could result in further increases to the cost of flights. This week an Indian government official said retaliatory measures to the scheme were being considered, including the possibility of new taxes and restrictions on flights from EU countries to non-EU ones. Discussions are due to take place next week, in either New Delhi or Moscow, between delegates of those countries that oppose the scheme. Should restrictions be imposed, flights to hundreds of destinations could be affected.
Chris Goater, a spokesman for the International Air Transport Association (IATA), said: "Retaliatory measures have been mentioned, and they must be avoided. It could result in a patchwork of different taxes on aviation, with airlines being taxed by two or three different governments. Airlines already have incredibly thin profit margins, so they could certainly result in higher air fares." To read this article in full click here
Seminar on carbon pricing and Clean Energy Future Plan
New financing models, leveraging public and private investment, and the opportunities presented by the Federal Government’s Clean Energy Future Plan will be addressed by the experts in carbon pricing policy at an upcoming event for the clean energy industry. The EcoGeneration Clean Energy Seminars will be held on 22 and 23 February in Melbourne and Sydney. These seminars have an excellent line-up of high-level industry leaders who will be sharing their insights on new plan, with a high level networking function attended by the who’s who of the clean energy industry. Presenters include Brad Archer, head of the Energy Markets and Renewables Branch in the Department of Climate Change and Energy Efficiency, who will present at the seminars in Melbourne and Sydney. Mr Archer will discuss key developments and progress, including on the Government’s measures for promoting innovation in renewable energy, such as the establishment of the Clean Energy Finance Corporation and the Australian Renewable Energy Agency. To read this article in full click here
Airlines Developing Different Strategies For Acquiring Carbon Credits
Airlines flying in Europe are finding different ways for handling the new emission trading scheme that took effect at the beginning of the year. While many airlines in North American and Asia continue to question the validity of the requirements to purchase carbon credits, several European carriers are developing plans for buying and trading carbon credits. Germany’s Lufthansa told Reuters it has been continuously buying up credits on the open market. Currently carbon credits in Europe are at bargain prices. The price is about half of what it was in 2010 at roughly 7 Euros per ton of carbon. The requirement to buy carbon credits is effectively a tax to provide an economic incentive to minimize emissions of C02 by the airlines. As of January 1, airlines flying to and from EU airports must have enough carbon credits to cover the emissions from their flights. The airlines join power and industrial plants in the EU that have been submitting carbon credits since 2005. Under the plan the airlines are given a number of free carbon credits to cover some of their operations, they must acquire the remaining credits either through trade or purchase. To read this article in full click here
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