“[New billionaires in fast-growing countries] have to buy longer-range airplanes. If you’re flying from Mongolia to Nigeria, it’s either a three-day journey flying commercial or a nine-hour flight on your jet.”
Euro Aviation Emissions Plan Registration Beginning
Many U.S. business aircraft operators have been reacting with dismay to the news that they need to start registering now for the European emissions trading scheme (ETS), which takes effect in 2012. In fact, some U.S. operators have already received letters from UK officials asking them to provide a point of contact.
The ETS covers more than 10,000 companies in the energy and industrial sectors, which are responsible for one-half of the EU's emissions of carbon dioxide and 40 percent of its greenhouse gas emissions. The ETS mandates that large emitters of carbon dioxide emissions must monitor and report their carbon dioxide emissions. Each year, they must also return to the government an amount of emission allowances that is equivalent to their carbon dioxide emissions in that year.
Privately, UK officials acknowledged that they lack sufficient resources to deal with large numbers of operators, meaning registration deadlines could slip.