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US considers financial reward to reduce carbon emissions

24-Sep-2010 9:24 AM

Pacific Asia Travel Association (PATA) announced (23-Sep-2010) the US Government is considering financial contributions to airlines that reduce their carbon emissions. A proposal with regard to the same was made in a civil aviation report by manufacturers, at the Aerospace Industries Association (AIA) and has been termed the "cash for carbon" plan. Such a proposal would allow the industry to gain some of the USD5 billion of new infrastructure spending recently announced by President Barack Obama to stimulate job growth, though that plan still awaits approval from Congress. Additionally, airlines would be provided financial incentive to reduce their carbon emissions. Industry estimates show that aircraft that burn a variety of jet fuels contribute to about 2% of global-warming greenhouse gases worldwide. More efficient flying could reduce greenhouse gas emissions from aircraft by up to 12% by 2025, according to the FAA. The lobby group suggested a four-year, USD6 billion financing plan. [more]