Global air emissions deal in milestone MBM agreement
Aviation to tackle CO2 emissions with MBM agreement, EU ETS rejected The International Civil Aviation Organization (ICAO) concluded a landmark 38th Assembly, receiving endorsement from its Member States on sector-wide strategic planning and exceeding many expectations when it agreed to develop a global market-based measure (MBM) for international aviation.Will maritime sector follow with an MBM agreement?This historic step forward emissions reduction, making aviation the first international transport sector to apply a global market-based mechanism to reduce their greenhouse gas emissions, rises the question how will shipping industry respond in the future to tackle shipping emissions?Earlier this year in June, the European Commission published its finalised proposal fora European Union (EU)regulation on MRV of CO2 emissions from ships. The establishment of an MRV agreement is necessary for the other two steps;the setting of GHG reduction targets for the maritime transport sector and the application of MBM measures.The landmark MBM Agreement for aviationThe Assembly agreed to develop by 2016 a global market based mechanism to tackle emissions, which can come into force in 2020. The market based mechanism will be accompanied by a series of technical and operational measures to reduce emissions.With this deal, the aviation industry becomes the first international transport ...
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