Carbon market for airline, auto sectors

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 report suggests. The Kyoto plan includes the use of pollution markets through which organisations that pollute less than the assigned targets may sell so-called "rights to pollute" to organisations which exceed their targets. Under this market-driven incentive system, organisations which are cleaner than a given standard gain a competitive advantage, and excessive polluters bear a cost burden.

Trading on the EU Emissions Trading System (ETS) began in January and covers the power and heavy-industry sectors that account for about half of the 25-member EU bloc's carbon emissions.

The IEA report says: "Transport is a priority for climate policy, being responsible for a quarter of global CO2 emissions and the second-fastest growing source after power and heat generation." Reduced demand for air transport would account for most short-term reductions from 0.2 to 3.0 percent against a growing baseline. In the longer term, technical and operational measures would account for half of these reductions.

For road transport, the report outlines a range of policy options including a market among car manufacturers. While acknowledging the need for complementary policies in areas such as urban planning and public transport to reduce transport emissions, the report says that such a market system would foster quicker technical improvements in new cars and benefit consumers by providing more fuel-efficient or zero-emission vehicles.

Post a Comment:

Comments are closed for this entry.

« Energy costs become... | Main | More Indian outsourc... »

Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out