China's civil aviation industry might have to pay 800 million yuan ($120 million) in carbon credits to the European Union (EU) in 2012 for carbon emissions, Economic Information Daily reported Friday, citing officials.
Beginning Jan 1, 2012, the EU will allocate the carbon emission quota to airline companies operating flights departing from or arriving in the EU. A company has to buy extra emission credits after surpassing the quota, the newspaper reported, citing an anonymous official in charge of energy saving and pollution reduction policies at the Civil Aviation Administration of China.
The EU announced the planned carbon emission credit quota system in 2009, and the carbon emission credit in EU carbon exchanges were priced from 10 euros to 30 euros ($13.6 to $40.8) a ton.
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