Friday, March 2, 2012

Latest Comments From ICAO On Emissions Regulation, Ownership Restrictions

According to ICAO Secretary General Raymond Benjamin, the organization's governing council has narrowed down to four the list of options under consideration for a global aviation emissions solution, and intends to submit a final proposal by the end of 2012. See Allison Martell and Susan Taylor, U.N. Aviation Body Says Emissions Proposal by Year-end, Reuters, March 2, 2012 (available here). ICAO is under pressure to produce a global agreement for controlling industry emissions to quell the continued controversy over the European Union's extension of its Emissions Trading Scheme to foreign carriers. While the application of the EU scheme to the aviation industry began this year, carriers are not required to pay for their emissions until Spring of 2013, giving ICAO a brief window in which to devise an alternative solution. The above-cited article also quotes Benjamin as saying ICAO intends to press the issue of market liberalization during an upcoming March 2013 conference, and suggests the call for elimination of foreign ownership restrictions is growing louder.

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