The head of the International Air Transport Association says the industry is wiling to reduce its carbon emissions, but claims that governmental agencies are not helping to address the problem.

Chief Executive Giovanni Bisignani said the lack of international agreements on carbon trading and emissions caps has prevented the airlines from moving forward on cleaning up their industry. That seems like an easy way to pass the buck, but as we know airlines don't exactly have a surplus of profits to use to develop and implement new fuels.

Reducing the use of fossil fuels could green the airlines and save money. A Brazilian university professor turned entrepreneur says a wild growing tree in his country produces nuts that can be turned into bio jet fuel.

Expedito Parente, a professor at Ceará Federal University in Fortaleza and head of firm Biotec, says the babussa palm tree grows on 45 million acres in Brazil, and the fruit of the tree produces enough oil for 20 percent of all of the world's aviation fuel.

Airlines are starting to take biofuels seriously. Biotec's technology was presented before the U.S. Transportation Research Board earlier this year, and Virgin Atlantic is testing a biofuel in some of its jets.

A recent United Nations report states that airplanes are uniquely affecting climate change because of the release of greenhouse gases at high altitudes. Transforming aviation into a sustainable industry could be as big of an opportunity as the current cleaning up of the auto industry.