Aviation is an international business – why not conduct emissions trading at global level?
In 2001 the ICAO endorsed open emissions trading for international aviation – that is, the inclusion of aviation in emissions trading schemes that also cover other sectors, rather than dedicated trading schemes for aviation on its own. In terms of how to implement this, ICAO in 2004 decided against developing a new legal instrument (a “Kyoto Protocol for aviation”) under its own auspices and instead endorsed aviation emissions trading through voluntary initiatives or the inclusion of international aviation emissions in states’ existing trading schemes. The EC’s proposal is based on the latter approach and is therefore fully in line with ICAO policy.
