Aviation and emissions trading in the European Union : pie in the sky or compatible with international law?

Abstract

In 2003, the then European Community1 adopted Directive 2003/87/EC, establishing a scheme for trading allowances of greenhouse gas (GHG) emissions.2 Directive 2003/87/EC mandated the establishment of an emissions trading scheme (ETS) within the European Community “to promote reductions of greenhouse gas emissions in a cost-effective and economically efficient manner.”