International airlines lost a challenge to the European Union’s planned expansion of its carbon cap-and-trade system, the region’s highest court said. The EU Court of Justice “confirms the validity of the directive that includes aviation” in the emissions-trading program, the Luxembourg court ruled today. United Continental Holdings Inc. (UAL), AMR Corp. (AMR)’s American Airlines and the Air Transport Association of America challenged the EU’s attempt to extend the world’s largest carbon cap-and- trade program beyond its borders. The EU regulator has said it won’t end plans to impose carbon curbs on flights to and from the region’s airports starting next year. At a court hearing in July, the airlines said the EU’s plan to extend the EU carbon market to all flights that depart from or arrive at an airport in the region was unlawful. EU carbon permits for December 2012 delivery pared losses after the ruling and traded 2.7 percent down at 8.68 euros a metric ton on the ICE Futures Europe exchange as of 10:20 a.m. in London.
No comments:
Post a Comment