The International Civil Aviation Organization (ICAO) has reached agreement on a new scheme, the global market-based measure (GMBM), under which airlines will offset their C02 emissions through the purchase of ‘emission units’ generated by carbon reduction projects in other sectors, beginning in 2021. In the first phase (2021–2026), 65 countries will participate on a voluntary basis, including all EU member states. Participation will be mandatory in the second phase (2027–2035) for all except those exempted countries with small aviation activities. The aim is for around 80% of the emissions above 2020 levels to be offset by the scheme between 2021 and 2035. See http://bit.ly/2d8hR5S.
The European Commission will now review the scope of the EU emissions trading system (EU ETS) in relation to aviation, which currently applies only to flights within the EEA, to assess whether changes are necessary to make it compatible with international agreements. The decision was taken in 2013 to postpone application of the EU ETS in relation to international aviation to allow time for a global agreement at the ICAO. The European Commission regards the EU ETS as the ‘cornerstone’ of EU climate policy. The EU ETS is a ‘cap and trade’ scheme, which means that emissions cannot increase beyond a certain amount. The GMBM is an ‘offsetting scheme’, which allows emissions to grow without limit so long as they are compensated with offsets.
The International Civil Aviation Organization (ICAO) has reached agreement on a new scheme, the global market-based measure (GMBM), under which airlines will offset their C02 emissions through the purchase of ‘emission units’ generated by carbon reduction projects in other sectors, beginning in 2021. In the first phase (2021–2026), 65 countries will participate on a voluntary basis, including all EU member states. Participation will be mandatory in the second phase (2027–2035) for all except those exempted countries with small aviation activities. The aim is for around 80% of the emissions above 2020 levels to be offset by the scheme between 2021 and 2035. See http://bit.ly/2d8hR5S.
The European Commission will now review the scope of the EU emissions trading system (EU ETS) in relation to aviation, which currently applies only to flights within the EEA, to assess whether changes are necessary to make it compatible with international agreements. The decision was taken in 2013 to postpone application of the EU ETS in relation to international aviation to allow time for a global agreement at the ICAO. The European Commission regards the EU ETS as the ‘cornerstone’ of EU climate policy. The EU ETS is a ‘cap and trade’ scheme, which means that emissions cannot increase beyond a certain amount. The GMBM is an ‘offsetting scheme’, which allows emissions to grow without limit so long as they are compensated with offsets.
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