Yes, it’s a tax. Yes, it’s confusing. Yes, it’s been poorly managed. But in the European Union, it’s the law. And if you operate an aircraft into, out of or within European airspace, you must comply. Europe’s Emissions Trading Scheme, or ETS, is one result of a European environmental policy that attributes climate change to the by-products of human activity, with special focus on so-called “greenhouse” gases such as methane and carbon dioxide. European governments have concluded that any ...

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