Press Release

Issued by VerifAvia.

October 1, 2010

VerifAvia (UK) Ltd announces that it was recommended today by the United Kingdom Accreditation Service (UKAS) to provide verification services of greenhouse gas emissions and tonne-kilometre data for aircraft operators included in the EU Emissions Trading Scheme (EU ETS).

"Being recommended by UKAS is a major achievement for us. We have put a lot of effort and energy into this lengthy, complex and costly process. We have had to design and implement an EU ETS assurance management system that is in compliance with the ISO 14065 standard and the EA-6/03 guidance document. The system includes standard operating procedures for each step of a verification audit, as well as procedures to identify, select, train and evaluate EU ETS auditors; procedures to control the quality of the system; procedures to handle complaints and appeals; procedures to ensure the independence and impartiality of verification audits," comments Julien Dufour, VerifAvia's CEO.

UKAS is the national accreditation body of the United Kingdom in charge of accrediting companies that want to provide EU ETS verification. The accreditation is sector-specific and non-aviation verifiers must also go through this process if they want to extend their accreditation to the aviation sector. The recommended status is the last step before the full accreditation. VerifAvia's accreditation recommendation will now enter an internal peer review process that should confirm the accreditation within a period of around two weeks.

"There are already more than 10 airlines that have signed up with VerifAvia or confirmed they expect to select VerifAvia as their aviation verifier. UKAS accreditation is a key step of our development as it opens the door not only to the aircraft operators administered by the UK but also to the aircraft operators administered by most other competent authorities," adds Dufour. Already approved as an aviation verifier in France, Belgium, Cyprus, Czech Republic and Luxembourg, UKAS accreditation will allow VerifAvia to be approved in such countries as Austria, Germany, Ireland, the Netherlands, Portugal or Spain.

Since January 2010, the 2,500 or so aircraft operators included in the EU ETS have started to monitor their aircraft emissions and tonne-kilometre data according to their approved monitoring plans and the EU ETS regulation. The annual emissions and tonne-kilometre reports must be independently verified by an independent accredited verifier before being submitted to the relevant EU competent authority. The aim of verification is not only to ensure that the reported data is free from material misstatement but also to ensure that the procedures in place conform to the regulation.

In order to avoid a bottle-neck in the selection of a verifier and to allow time for corrective actions, aircraft operators should start the verification process during the last quarter of 2010.