European Commission welcomes ICAO GMBM agreement and will provide assistance to roll-out

European Commission (EC) welcomed (06-Oct-2016) the agreement reached by ICAO to curb CO2 emissions from international aviation. EC stated this is the first-ever global agreement to address CO2 emissions in a specific sector of the economy. Key highlights:

• From 2021, flights between 65 states - including all EU countries - will be covered by a global market-based measure (GMBM) to offset CO2 emissions. Others will come on-board during the mandatory phase in 2027;
• Around 80% of the emissions above 2020 levels will be offset by the scheme between 2021 and 2035;
• The agreement contains a strong review clause that will ensure that we are regularly given the chance to improve the GMBM and make it more robust and ambitious, in line with the goals of the Paris Agreement;
• Over the next two years, ICAO will lay out the technical rules of the GMBM. The EU will offer financial and technical assistance;
• The Commission will soon present a report to the European Parliament and the Council on the outcome reached at ICAO, in the context of the EU Emissions Trading System for aviation." [more - original PR]