Boeing (NYSE: BA) has commended the International Civil Aviation Organization´s adoption of a carbon-offset system that will help the industry achieve its goal of reducing emissions, the company said.
This company said the agreement represents a sector-based, global market mechanism to address climate change and is complementary to the CO2 standard for airplane emissions that ICAO adopted earlier this year. These two agreements result from several years of collaboration by international experts from ICAO member states, the aviation industry and non-governmental organizations.
The market-based carbon-offset system and CO2 standard aim to stop the growth of emissions by 2020 and cut them in half by 2050 relative to 2005 levels. These efforts also include: investing in new, more efficient aircraft; improving operational performance of the in-service fleet; improving the efficiency of air traffic management and other infrastructure; and scaling up the use of sustainable alternative fuels.
Boeing is a large aerospace company and manufacturer of commercial jetliners and defense, space and security systems. The company supports airlines and US and allied government customers in 150 countries.