Expert opinion says ETS is legal

The advocate general to the European Court of Justice Juliane Kokott has stated that the European Union’s carbon emissions trading scheme (ETS) which will force non-European airlines to pay for carbon emissions are within the law. She said: “EU legislation does not infringe the sovereignty of other states or the freedom of the high seas guaranteed under international law, and is compatible with the relevant international agreements.” Expect non-EU airline stocks to fall today, even though the opinion at the ECJ is not binding. A final ruling will be made by the court’s judges early next year although traditionally they