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Market Measures What are the options?

Market Measures What are the options?. Aviation Vision. Is for carbon neutral growth Leading to a zero carbon emissions future. Aviation Sector Targets. +1.5% improvement in fuel efficiency to 2020 Carbon Neutral Growth from 2020 50% absolute reduction in net emissions vs 2005 by 2050.

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Market Measures What are the options?

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  1. Market Measures What are the options?

  2. Aviation Vision Is for carbon neutral growth Leading to a zero carbon emissions future

  3. Aviation Sector Targets • +1.5% improvement in fuel efficiency to 2020 • Carbon Neutral Growth from 2020 • 50% absolute reduction in net emissions vs 2005 by 2050

  4. Four Pillar Strategy • Technology • Invest in New Technology • Operations • Fly More Efficiently • Infrastructure • Build & Use Efficient Infrastructure • Economic instruments • Use Effective Economic Measures

  5. Carbon neutral growth Traffic growth (5% pa) Emissions growth (2-3% pa) Technology Operations Infrastructure Economic instruments 100 Time

  6. Ongoing fleet renewal • Improvements in air traffic management • Low carbon fuels for aviation Three key drivers of emissions reductions

  7. Ongoing Fleet Renewal / Technology Dvpt. Forecasted Emissions Growth w/o Reduction Measures ATM Investments CO2 Emissions Low Carbon Fuels Baseline Carbon Neutral Timeline 2050 Three key drivers of emissions reductions

  8. Economic measures • Industry Supports positive measures • Investment incentives / research funding • Carbon offsets • Credible, transparent • Emissions trading • fair, global, sectoral, multi-lateral

  9. Double-counting, cost & complexity • EU legislation passed • ETS proposals • Australia • New Zealand • USA • Japan • … • UK • $ 3.5 billion • Netherlands (since rescinded) • $ 500 million • Ireland • $ 200 million • Belgium (since rescinded) • $ 175 million Multiplicity of government responses

  10. Risk of competitive distortion? • Multiple, overlapping, regional emissions trading schemes cause trouble for a global industry • Double counting, excess taxation, competitive distortion Lufthansa 2008

  11. Maldives Adaptation Levy • $6 on all international economy tickets, • $62 on all international premium tickets • Will raise $10 billion • To be used on adaptation works in developing nations, funds administered through UNFCCC

  12. Economic measures Effective emissions reduction tool Or Clandestine way to raise more taxation?

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