1. Aviation - Achieving climate neutral growth through a market based measure

2. ICAO work on a market based measure  International aviation not covered in UNFCCC targets  Work to address GHG emission from u=international aviation is led by ICAO  Aspirational target to stabilize emissions at 2020 levels.  Agreed to develop a market based measure (MBM) to be adopted by ICAO’s general assembly 2016 (27 Sep – 7 Oct).  Volume of offsets required annually by 2035 ranges from443 to 596 Million tonnes of CO2.  Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA)

3. ICAO work on a market based measure  Key issues debated include:  Implementation date of the scheme: From (original idea) 2020 as start date to (new draft text) phased implementation with voluntary participation in 2021 to 2026.  Exemptions for LDC, LLDC and small airlines (less than 10.000 t CO2eqv/year)  Criteria for emission units / coherence with UNFCCC process / MRV  Promote the use of emissions units generated that benefit developing States, and encourages States to develop domestic aviation-related projects;