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PATA: Financial reward to reduce carbon emissions

Direct News Source

23-Sep-2010 The US government is considering financial contributions to airlines that reduce on their carbon emissions. A proposal with regard to the same was made in a civil aviation report by manufacturers, at the Aerospace Industries Association (AIA) and has been termed the ‘cash for carbon’ plan, according to an Airwise report as quoted in eTravel Blackboard.

Such a proposal would allow the industry to gain some of the US$5-billion of new infrastructure spending recently announced by President Obama to stimulate job growth, though that plan still awaits approval from Congress. Additionally, airlines would be provided financial incentive to reduce their carbon emissions. Industry estimates show that aircraft that burn a variety of jet fuels contribute to about two per cent of global-warming greenhouse gases worldwide. More efficient flying could reduce greenhouse gas emissions from aircraft by up to 12% by 2025, according to the FAA.

The lobby group suggested a four-year, US$six-billion financing plan, according to the report