September 25, 2008

Aviation, Shipping Need To Cut Emissions, Trading Will Fall Short

Bookmark and Share Email this story Print this post Add your comments

A Merrill Lynch report says that a proposed new E.U. emissions trading scheme — which requires airlines in Europe to pay for their carbon emissions, and is expected to be approved later this year — will  drive greater efficiency in the industry, finchannel.com reports.

The research shows that under the new scheme the bloc’s 27 member states would be forced to pay an estimated €3 billion a year from 2015, for their CO2 emissions.

The move is expected to drive demand for more fuel-efficient aircraft and increase the focus on the most profitable routes.

But new research presented at a climate change conference in U.K. says carbon trading will not solve the problems of soaring emissions from the aviation and shipping industries.

Manchester University climate scientist Alice Bows told the Guardian, that future carbon cuts needed will be so severe that both sectors will need to reduce their own emissions as well.

Both industries are taking initiatives to curb their CO2 emissions.

Just recently, the Air Transport Association revealed that U.S. airlines reduced 2.5 billion metric tons of CO2 from 1978 to 2007. Shipping companies are also building bigger to curb emissions.

Bookmark and Share Email this story Print this post Add your comments

Advertisers

Join the Discussion

Get EL Daily in your inbox, subscribe to free newsletter

Recent Daily News [ see all ]

  • 11/20/2009
  • 11/19/2009
  • 11/18/2009

Recent Jobs

Post a Job
Jobs powered by Simply Hired

Comments and Discussions

Gary Markowitz on Supermarkets Tackle Emissions Reductions, Fuel Efficiency
"Supermarkets waste over 10 percent of their energy through improper..."

peter in ireland on Ontario May Follow California’s Lead on TV Energy Efficiency
"Governor Schwarzenegger is shooting himself in the foot! 1...."

Environmental Leader on S. America Takes Most Urgent View of Copenhagen Talks
"The survey respondents (the PDF report mentions 4,000 respondents in 38..."

Jake on UPS Trying New Hydraulic Hybrid Trucks
"A point of clarification: the Reuters press release referenced herein reports that 20 UPS will purchase..."

Custom Organic Shirts on S. America Takes Most Urgent View of Copenhagen Talks
"90% of North Americans believe it is urgent to get a global climate..."

peter dublin on California City’s Green Building Ordinance Applies to Commercial Buildings
"Why energy efficiebnt regulation on buildings –..."