Emissions Master Of-Iata Master Agreement
Given its timetable, it was clearly hoped that the conclusion of CORSIA would be sufficient for the EU to indefinitely suspend its unilateral approach to the international agreement. Indeed, shortly after CORSIA`s approval, the European Commission published a communication in early 2017 proposing a regulation amending the 2003/87/EC directive on the continuation of the current restrictions on the scope of the ETS for aeronautical activities and « preparing for the implementation of a global market-based measure from 2021 on. » January 30, 2020 – Holding group Xpansiv CBL (XCHG) and IATA have announced a partnership for the development of the Aviation Carbon Exchange (ACE), a new and innovative opportunity for airlines to meet their emissions commitments under the International Air Transport CO2 Emission Reduction System (CORSIA). CORSIA is looking at increasing total INTERNATIONAL aviation CO2 emissions above 2020 levels. The IATA Aviation Carbon Exchange (ACE) is a centralized market where airlines and other aviation players can exchange CORSIA-compliant emission units and emission units for voluntary compensation. CEA provides airlines with a safe and intuitive destination for real-time data access with total transparency. As a safe and user-friendly business environment, ACE offers the largest number of emission reductions available in carbon markets. The exchanges are open to all airlines (IATA and non-IATA) and CO2 operators who wish to act on voluntary emission reduction units, as well as those that comply with CORSIA. Airlines that act with THE CEA benefit from the simplification of billing and regulation (SIS) and the IATA clearing house of IATA for a safe and risk-free settlement. This billing and billing option will be available to airlines in the fourth quarter of 2020. In the meantime, airline billing will be carried out through the CBL Market billing process. The ACE platform is offered in partnership with the holding group Xpansiv CBL (XCHG) and CBL Markets (CBL), an XCHG company.
The exchange will be introduced under a phased approach to trading options, with full integration into the CBL trading platform and IATA settlement systems during the fourth quarter of 2020. However, if the Commission`s proposal is looked more closely, the EU is not prepared to give its full opinion on ICAO`s political developments. Instead of committing to make final changes, the Commission proposes « a new assessment and review of the EU ETS for the post-2020 year, « given that there is more clarity on the nature and content of the legal instruments adopted by ICAO for the implementation of the SARL, as well as on the intentions of our international partners with regard to the implementation of the ETS. » This assessment takes into account « the necessary coherence with the EU`s macroeconomic commitment under the Paris Agreement and with its agreed target of reducing greenhouse gas emissions within the country by 40% by 2030 compared to 1990 levels ». Implicitly, the EU is therefore not prepared to completely replace its carbon trading SYSTEM with the ICAO agreement if the regulation does not allow the EU to meet its ambitious climate targets.