A leading economist is warning that if the world does not take the action required by the Paris climate agreement, it will have to make a dangerously sudden adjustment 10-15 years from now which will have massive costs.
Shipowners and operators have told the UN’s International Maritime Organisation that the shipping industry should adopt an emissions reduction pledge like countries have done under the Paris climate agreement. It’s the first time the International Chamber of Shipping (ICS) has called for mandated reductions in shipping CO2, though it ruled out binding targets and didn’t suggest a concrete timeline of action.
The Paris climate agreement’s target of limiting global warming well below 2°C will be impossible without measures to curb shipping’s greenhouse gas emissions, MEPs told industry representatives last week. Including shipping CO2 in the EU’s emissions trading system (ETS) or having the sector contribute to a climate compensation fund were the options on the table, they said.
While the International Civil Aviation Organisation (ICAO) continued its essential work to develop a global market-based mechanism to cut the sector’s emissions, by far the biggest highlight of 2015 was the Paris COP21 summit.
Last year I learned that the so-called 2030 ‘Effort Sharing Decision’ (ESD) for which the Commission will be making a proposal before Summer 2016, can be extremely important for reducing emissions in the transport sector.
The Paris ‘Conference of the Parties’ 21, the most important climate conference since the failed Copenhagen one of six years ago, is nearing an outcome. The dramatic 13 November events in the city has surely added grit to France’s determination to succeed, and has forged some unusual alliances. There is some hope that the spirit of togetherness – not just against terrorism but also to tackle that other global threat which the COP is about – will help in forging a transformative deal.
EU approval of Ireland’s €42.5 million in state aid to small regional airports has been criticised for allowing public money to prop up underutilised infrastructure with questionable social and economic benefits. Four airports will receive the grants over the next four years – while the Irish government faces calls to address ‘chronic’ underinvestment in low-carbon public transport.