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Report: Boeing, Airbus and Embraer to Promote Biofuels

March 22, 2012

At the Air Transport Action Group (ATAG) Aviation and Environment Summit in Geneva, Boeing, Airbus and Embraer signed a memorandum of understanding to promote biofuels, Reuters reports.

"Two of the biggest threats to our industry are the price of oil and the impact of commercial air travel on our environment," Jim Albaugh, CEO of Boeing, tells Reuters.

The European Union Emissions Trading Scheme, which took effect January 1, requires airlines flying in and out of the EU to offset their emissions by buying carbon permits; however, airline industry associations in the U.S. and elsewhere have argued against the legality of the EU’s plan and called for a global solution to airplane emissions.

Read the Reuters story here.

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