Airline industry $24b emissions pact gets UN approval

A UN accord to limit emissions from international air travel was formally adopted, the first global climate accord targeting a single industry. After nine days of debate, delegates from 190 nations approved the measure Thursday in Montreal, requiring companies to offset emissions growth after 2020 by funding environmental initiatives. It is the first global climate accord adopted since the Paris Agreement, which will enter into force next month. At least 60 nations representing more than 80% of aviation traffic have pledged to voluntarily participate in the system when it begins in 2020, including the US, China and most of Europe. The deal, which has drawn criticism from India and Russia, becomes mandatory for most nations in 2027. “What we have been able to do today is a bold decision. It is really a historic moment,” said Olumuyiwa Benard Aliu of Nigeria, president of the UN aviation agency’s council. The UN’s ICAO estimates the agreement would cost airlines between $5.3b and $23.9b annually by 2035. Exhaust from international flights accounts for about 2% of global greenhouse gases and is forecast to triple by 2050. The 15-year agreement would not force airlines to cut their pollution. Instead, companies would compensate for any emissions growth after the accord begins in 2020 by buying credits to support renewable energy development, forest preservation or other environmental endeavors. Airlines supported the accord. Despite the cost, companies said a single international standard would be cheaper and easier to follow than a patchwork of local programs.<br/>