The GHG market is getting heated. At a time when many are adopting the narrative that carbon markets are faltering. Yet the European Union (EU) is aggressively pursuing the expansion of theirs to include aviation. One of only two mandatory greenhouse gas (GHG) cap-and-trade systems in the world. So the EU Emissions Trading Scheme (ETS) plans to fold in a new sector beginning in January 2012. Our research shows reducing GHG emissions from aviation is critical. Especially if we are to mitigate the impacts of global climate change.
So low-carbon fuel technology and other technologies for airplanes are advancing at a rapid clip. Yet we need a climate policy. That’s either a price on carbon or something else – to get over the hump.
Although there are many opportunities to reduce aviation’s impact on global climate change available now, experts expect GHG emissions from aviation to grow by up to 300 percent by 2050 if left unchecked. Action in the areas of advanced biofuels, airplane navigation and landing systems, and engine and airframe efficiency could help considerably. However, because of market failures, many new technologies may not succeed without public policy.