The ICAO United Nations Aviation Assembly has reached an agreement to develop a global market-based measures (MBM) scheme for aviation emissions by 2016 that will be implemented in 2020. The landmark accord was approved Oct. 4, the last day of the two-week Assembly in Montreal. The European Commission (EC), which forced the emissions fees’ issue to the forefront when it implemented its European Union Emissions Trading Scheme (EU-ETS), has made a statement welcoming the ICAO ...

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