>Starting January 1, a new law will charge a greenhouse gas emissions tax on all air travel to and from European Union airports. The plan, which was passed by the European parliament two years ago, was recently given the green light after a court challenge led by a U.S.-based aviation group was rejected.
As a result of the new tax, airline ticket prices to EU destinations are expected to rise $3-$15. Total tax revenues, which could add up to $26 billion by 2020, will be invested to fight climate change and spur the adoption of greener technologies in air travel, which accounts for roughly 3 percent of global carbon dioxide emissions.
European officials say their initiative was taken because 10 long years of negotiations overseen by a United Nations agency has yielded absolutely nothing resembling international agreement on an aviation carbon cap-and-trade system.