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UN's carbon credit accord's bark may be worse than its bite
THE UN's International Civil Aviation Organisation's (ICAO) bark may be worse than its bite when it comes policing carbon emissions, according to a commentary from Bloomberg News.
The unsigned editorial said the cheers of prominent voices in the US and the White House were unjustified as the UN measure "stands to do little to reduce carbon dioxide emissions from airplanes".
The voluntary agreement until 2027 sets no limits on carbon growth and only says it will maintain current levels until 2020, it said.
"Compare that with the Paris climate accords, by which the US committed to cutting emissions at least 26 per cent below 2005 levels by 2025," it said, adding that other countries were more ambitious.
"The agreement hardly qualifies for the praise. It stands to do little to reduce carbon dioxide emissions from airplanes. Rather than make their aircraft more fuel-efficient, airlines are allowed to negate their post-2020 emissions growth on paper, through the purchase of offsets - for example, by paying to plant trees.
The deal calls the offsets a "market-based mechanism", but it has nothing to do with the market for jet fuel.
The unsigned editorial said the cheers of prominent voices in the US and the White House were unjustified as the UN measure "stands to do little to reduce carbon dioxide emissions from airplanes".
The voluntary agreement until 2027 sets no limits on carbon growth and only says it will maintain current levels until 2020, it said.
"Compare that with the Paris climate accords, by which the US committed to cutting emissions at least 26 per cent below 2005 levels by 2025," it said, adding that other countries were more ambitious.
"The agreement hardly qualifies for the praise. It stands to do little to reduce carbon dioxide emissions from airplanes. Rather than make their aircraft more fuel-efficient, airlines are allowed to negate their post-2020 emissions growth on paper, through the purchase of offsets - for example, by paying to plant trees.
The deal calls the offsets a "market-based mechanism", but it has nothing to do with the market for jet fuel.
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