To sate their voracious appetite for greenwashing offsets, major fossil fuel companies have invested considerable resources and effort to lobby, both directly and indirectly, to weaken carbon market federal regulations in the United States and state regulations in California, concludes a new Carbon Market Watch investigation.
Expanding the EU ETS to all departing EEA flights, including those operated by US airlines, is crucial to generate much needed revenue and spark aviation’s green transition.
The International Civil Aviation Organisation hailed its Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) as a global, harmonised answer to aviation’s growing climate impact. Yet the reality is very different: patchy enforcement, limited coverage, and heavy reliance on problematic offsetting with carbon credits.
Despite being the most climate-damaging form of travel, private jet use has reached record highs, yet most flights are exempt from paying a carbon price, and all are exempt from fuel taxes. This must end.
The European Commission’s Sustainable Transport Investment Plan (STIP) is a promising step towards promoting cleaner fuels in aviation and maritime transport. However, directing revenue from the EU Emissions Trading System towards these sectors should go hand in hand with expanding the EU ETS to cover all shipping and aviation emissions.
The International Maritime Organisation’s Net-Zero Framework is a necessary starting point but urgently needs greater ambition and binding revenue earmarking for decarbonisation and a just transition.
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