Chinese airlines to face USD120m bill for EU carbon credits in 2012

China's civil aviation industry may have to pay CNY800 million (USD120 million) in carbon credits to the European Union in 2012 for carbon emissions (Economic Information Daily/China Daily, 19-Nov-2010). From 01-Jan-2012, the EU will allocate the carbon emission quota to airline companies operating services to/from the EU. The EU announced the planned carbon emission credit quota system in 2009, and the carbon emission credit in EU carbon exchanges were priced from EUR10 to EUR30 per ton.