EU transport ministers gave their approval to a European Commission proposal for airlines to meet quotas either by reducing their emissions or buying carbon dioxide credits from other industries, The Raw Story reports.
Under the Commission’s proposal, which still has to be adopted by the European Parliament, airlines would be subject to emissions quotas from 2011 on intra-European flights and from 2012 for flights originating outside the bloc.
A group of six associations representing European airlines published a study on Thursday that airlines would have to spend over $60 billion between 2011 and 2022 buying up credits from more fuel-efficient industries to meet their quotas.
Washington has raised the prospect of launching legal action if Europe goes ahead with the plans.