Airlines ripe for carbon market: IEA

Paris, November 27:

Rapidly rising pollution by the aviation industry, which is not covered by targets in the Kyoto protocol to combat global warming, could be slashed through inclusion in the EU carbon market, an International Energy Agency (IEA) report suggests. The co-author of the report, economist Richard Baron, commented, “The political pressure is very high on aviation and their emissions are rising very rapidly.” The report argues that the auto industry could also be included in the pioneering pollution market and this would increase incentives for manufacturers to increase fuel efficiency. The proposals appeared in a document this week entitled ‘Act Locally, Trade Globally’ outlining a range of market policies to reduce pollution emissions internationally and nationally. The first meeting of the countries involved in the Kyoto Protocol since it was ratificed is to be held from tomorrow.