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Friday, 20 May 2011

EU finance chiefs call for global air and maritime carbon market

EU finance ministers have proposed a carbon pricing system for international shipping and aviation, to cut emissions and raise finances for climate change mitigation. In a statement, the ministers called for the International Maritime Organisation (IMO) and the International Civil Aviation Organisation (ICAO) to "develop without delay a global policy framework that avoids competitive distortions or carbon leakage". "The carbon pricing of global aviation and maritime transportation is a potential source of revenues that would also generate the price signal necessary to efficiently achieve emission reductions from these sectors," the statement said.

Source: Euractiv