Aviation will heavily rely on carbon credits to hit EU ‘Fit for 55’ emissions target
Aviation is able to meet the EU’s target to significantly reduce net CO2 emissions by 2030, but only through a heavy reliance on market-based measures and the absorption of billions of euros in extra costs, according to the region’s network manager Eurocontrol. Its assessment came as the EC works on proposals for the so-called ‘Fit for 55’ climate and energy package, under which the bloc is aiming to reduce economy-wide CO2 emissions by 55% from 1990 levels by 2030. The first votes on the package are due to take place later this year. Publishing the conclusions of a report – Think Paper: Reducing aviation emissions by 55% by 2030 – on 12 May, Eurocontrol suggests that under all of its traffic growth scenarios, MBMs would account for between 75% and 87% of the net CO2 emissions reduction required to meet the proposal’s target. Carbon credits from the EU’s Emissions Trading System (ETS) – which covers intra-EU travel – would be the main MBM recourse for the aviation sector, the report suggests, while ICAO’s CORSIA scheme would also contribute via the offsetting of any growth in emissions on international flights that are not intra-EU. Other initiatives would play a smaller part, reflecting the sector’s lack of transformative options to achieve emissions reductions at source over the coming years. Air traffic management (ATM) improvements are estimated to be the second-biggest contributor to cutting net CO2 emissions, achieving 8-12% of the total, while fleet upgrades contribute 1-3%. Sustainable aviation fuel is only forecast to contribute 4-9% of the net reduction through to 2030. Achieving the ambitions of the Fit for 55 programme will theoretically come at a high cost to Europe’s aviation industry, not least because the proposals include the removal of jet fuel’s tax exemption. Eurocontrol’s report estimates the “cumulative extra cost” of the decarbonisation measures over 2022-2030 will amount to E62b in its base-case traffic scenario. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2022-05-13/general/aviation-will-heavily-rely-on-carbon-credits-to-hit-eu-2018fit-for-552019-emissions-target
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Aviation will heavily rely on carbon credits to hit EU ‘Fit for 55’ emissions target
Aviation is able to meet the EU’s target to significantly reduce net CO2 emissions by 2030, but only through a heavy reliance on market-based measures and the absorption of billions of euros in extra costs, according to the region’s network manager Eurocontrol. Its assessment came as the EC works on proposals for the so-called ‘Fit for 55’ climate and energy package, under which the bloc is aiming to reduce economy-wide CO2 emissions by 55% from 1990 levels by 2030. The first votes on the package are due to take place later this year. Publishing the conclusions of a report – Think Paper: Reducing aviation emissions by 55% by 2030 – on 12 May, Eurocontrol suggests that under all of its traffic growth scenarios, MBMs would account for between 75% and 87% of the net CO2 emissions reduction required to meet the proposal’s target. Carbon credits from the EU’s Emissions Trading System (ETS) – which covers intra-EU travel – would be the main MBM recourse for the aviation sector, the report suggests, while ICAO’s CORSIA scheme would also contribute via the offsetting of any growth in emissions on international flights that are not intra-EU. Other initiatives would play a smaller part, reflecting the sector’s lack of transformative options to achieve emissions reductions at source over the coming years. Air traffic management (ATM) improvements are estimated to be the second-biggest contributor to cutting net CO2 emissions, achieving 8-12% of the total, while fleet upgrades contribute 1-3%. Sustainable aviation fuel is only forecast to contribute 4-9% of the net reduction through to 2030. Achieving the ambitions of the Fit for 55 programme will theoretically come at a high cost to Europe’s aviation industry, not least because the proposals include the removal of jet fuel’s tax exemption. Eurocontrol’s report estimates the “cumulative extra cost” of the decarbonisation measures over 2022-2030 will amount to E62b in its base-case traffic scenario. <br/>
