(International Freighting Weekly – David Badger)
Twenty-nine countries threaten retaliation unless emissions trading scheme is abandoned
A group of 29 countries… put pressure on the EU to abandon its emissions trading scheme (ETS), threatening retaliation and raising the risk of a trade war. The countries, include the U.S., Russia, China and India, agreed to adopt “a basket of measures”, permitting each to choose “the actions that it finds most effective” to counteract the ETS”, said Valery Okulov, Russia’s deputy transportation minister, following a two-day meeting in Moscow.
The European scheme, which took effect on 1 January, legally requires all flights landing at any EU airport to take part in an emissions trading system to offset the carbon produced by its journey. Read more here.
Date: February 27, 2012