- Category: Politics
16 Nov 2012
- Published on Friday, 16 November 2012 16:26
- Hits (1570)
The European Union said it will “stop the clock” for aviation in the E.U.-wide carbon trading scheme for one year to give way to the United Nations international aviation body to deliver on a global market-based approach to greenhouse gas regulation in the sector.
European Climate Commissioner Connie Hedegaard said the move results from encouraging signs from the International Civil Aviation Organization during a council meeting last week.
Freezing aviation cap-and-trade will mean the temporary cancellation of allowances to be surrendered in April 2012 for emissions to and from the region during 2012. It will also suspend monitoring and reporting obligations for such flights.
Meanwhile, the obligations about all operators’ activities within the region will have to remain intact, as the compliance with the E.U. law will be observed and enforced in respect to this.
The E.U.’s Emissions Trading System is touted as the first and largest emissions trading scheme in the world. It was launched in 2005 and is a “cornerstone” of the region’s climate change policy and a key tool for cutting industrial greenhouse gas emissions cost-effectively, according to the European Commission.
So far, the E.U. E.T.S. has covered some 11,000 power stations and industrial plants across 30 countries.
“[F]inally we have a chance to get an international regulation on emissions from aviation. This is a long sought for opportunity that we must use. This is progress. But actually to get there, a lot of tough negotiations lie ahead of us,” said Ms. Hedegaard.
“But let me be very clear. If this exercise does not deliver – and I hope it does, then needless to say we are back to where we are today with the E.U. E.T.S. Automatically,” she warned. – EcoSeed Staff