With debates on unemployment, growth, and sovereign debt dominating government agendas, global warming in the United States is a topic relegated to the cold. Yet, as the global aviation community can testify, climate policy remains hot in at least a few jurisdictions. From January 1, 2012 onward, new European rules require all aircraft landing and departing from European territory to participate in Europe’s cap and trade greenhouse gas permitting system, commonly referred to as the EU ETS (European Union Emissions Trading System).
