Airlines Face Carbon-Cuts Verdict on $708 Billion Industry
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Nations from the U.S. to Russia and the European Union are set for a final showdown over the first-ever global commitment to designing an emissions-reduction market tool for the $708 billion airline industry.
Negotiators from more than 190 countries in the United Nations’ International Civil Aviation Organization will decide at a Montreal meeting starting today whether to back a pledge on a market-based measure for the sector, which is responsible for about 2 percent of greenhouse gases globally. Details of the program, a precedent for a single industry worldwide would be decided in 2016 and the market would start by 2020.