The United Nations accord reached Thursday to clean up pollution from international aviation may cost airlines as much as $23.9 billion annually by 2035. The companies see it as a victory.
The accord is less of a win for the planet, at least in the eyes of environmentalists. The deal is voluntary for countries during the first six years. It covers only international flights, not domestic. Rather than forcing emission cuts, it allows airlines to increase pollution in exchange for buying credits that support renewable energy development, forest preservation and other environmental efforts. And while costs will run into the billions, the price per flight will be low enough that it may not impact airfares.
This is an excerpt from an article published by Bloomberg. To read the full story, visit Aviation Climate Deal Seen a Win for Airlines, Less So for Earth.