As the dust settles following the ICAO / EU battle over aviation emissions, news reaches us that MEPs have significantly retreated from ordering significant cuts in CO2 from aircraft.
After talking big about how the Emissions Trading Scheme would dramatically reduce emissions, the EU has decided to reduce the sector's output to 66% above 1990 levels - a far cry from the Kyoto targets originally proposed. They are also planning to give away 50% of the credits, potentially providing a huge bonus to industry coffers.
