EU EMISSIONS TRADING SYSTEM (ETS) & CORSIA FRAMEWORK

“Cap - and - trade” approach: the EU states a cap on how much Greenhouse Gas pollution can be emitted each year. Companies hold, buy or trade European Emission Allowance (EUA) for each CO2 tonne they emit within one calendar year.

The annual charge for the Carbon Emissions is included in the monthly report.

For each applicable ETS flight, the volume of carbon emitted is calculated based on actual fuel burnt.

The equivalent of carbon produced is then purchased as “Carbon Rights” (Emission Quotas) under the ETS program.

Carbon Offsetting and Reduction Scheme (CORSIA) is an equivalent to the ETS at an international level.

It is important to highlight that it is possible to voluntarily contribute to a number of offsetting programs.

There are more than 1500 on-going projects worldwide that are compliant with the Social Development Goals. Here are the sectors:

• Agriculture, Forestry and Other Land Use

• Chemical Industry

• Energy demand

• Energy distribution

• Energy industries (renewable/non-renewable sources)

• Fugitive emissions from fuels (solid, oil, gas)

• Fugitive emissions from production and consumption of halocarbons and Sulphur hexafluoride

• Livestock, enteric fermentation, and manure management

• Manufacturing industries

• Metal production

• Mining/ mineral production

• Transport

• Waste handling and disposal