EBACE: Britain's bureaucrats make a fortune out of the ETS

Everywhere in the EU the bureaucratic and administrative cost of participating in the ETS is far greater than the revenues it will yield, said Humphries. He gave an example of one mainland European large business aviation operator that has estimated that it will pay €35,000 ($50,000) for carbon credits a year from 2012, but in addition to that its total administrative cost of compliance will be €70,000 a year.