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The International Civil Aviation Organization (ICAO) finalized an agreement to cap the aviation industry’s CO2 emissions at 2020 levels. Due to the cross-border nature of aviation, this sector, which is responsible for 2 percent of all GHG emissions globally, was excluded from the Paris Agreement in 2015. Although the agreement’s mandatory phase begins in 2027, more than 60 countries will voluntarily participate in the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) beginning in 2021. CORSIA is a market-based measure capping emissions at 2020 levels. Airlines that exceed the emissions cap can offset their excess CO2 in two ways.… [more]View Insight
Today the aviation industry is responsible for about 2% of all GHG emissions. Experts predict that by mid-century, this number could triple without policies designed to combat aircraft emissions due to rapid industry growth. In response, the International Civil Aviation Organization’s (ICAO) Committee on Aviation Environmental Protection (CAEP) has been negotiating a CO2 emissions standard for aircraft emissions with representatives from its member states, industry and non-governmental organizations. On February 8th, the CAEP unanimously approved a draft measure paving the way for final approval in 2016. If the ICAO emissions standards are approved by the ICAO’s 36-State Governing Council, the… [more]View Insight