Climate change policy
Since 2008, Cathay Pacific, along with other industry players, has been calling for the regulation of aviation emissions from a global sectoral scheme, under the United Nation’s International Civil Aviation Organization (ICAO). We believe a sectoral approach is more appropriate and effective for the global nature of the industry, rather than through regional schemes such as the EU ETS.
In 2014, ICAO began the development of a Global Market Based Measure (MBM) to address the growth of international aviation emissions.
In October 2016 at the ICAO 39th Assembly, global aviation industry reached a landmark climate agreement to put in place the world’s first mandatory carbon offsetting scheme covering an entire industry. This is an important regulation that will require all international airlines to offset industry’s growth in carbon emissions, which is set to commence in 2020. This will help towards achieving the industry target of carbon neutral growth (CNG) by 2020.
We are active members of several global groups, such as the Global Market-based Measure Technical Task Force (GMTF), which comprised representatives from ICAO member states, industry and NGOs. Cathay Pacific is continually and proactively engaging in dialogue revolving around the implementation of a global MBM for aviation emissions under ICAO. We are part of a small group of IATA carriers that are members of the expert groups looking at specific technical aspects of a global MBM through the ICAO Advisory Committee on Environmental Protection (CAEP), together with NGOs, states and academia. We are also part of IATA’s advisory group that supports the industry’s efforts in ICAO to develop a global MBM.
Significant progress was made in 2016 on the historic 39th Assembly Resolution and we will continue to involve ourselves closely in the process.
As an expanding and growing airline, we will likely need to offset a proportion of our emissions post 2020. However, our investment in biofuels and efficient aircraft such as the Airbus A350 and Boeing 777-9X will help reduce our emissions and offset obligations.
Global Efforts by the Aviation Industry in Reducing Emissions
|2008||Cathay Pacific as a Founding member of the Aviation Global Deal Group|
|2009||The aviation industry committed to new and ambitious targets for emissions reductions through IATA|
|2010||Monitoring of CO2 data began in compliance with the EUETS|
|2011||Cathay Pacific appointed to IATA Climate Chnage Task Force|
|2012||CCTF completed extensive work around the implementation of CNG 2020|
|2013||The 38th ICAO Assembly agreed to procced with the development of a global market-based measure for international aviation industry emissions|
|2014/2015||GMTF and working group meetings to discuss details of the global MBM|
|2016||The 39th ICAO Assembly agreed on a new global market-based measure (GMBM) to control CO2 emissions from international aviation.|