US-China Leadership May Help Clinch ICAO Offsetting Scheme

摘要

Joint ratification by the US and China of the Paris Agreement on the eve of the recent G20 summit could provide crucial impetus to secure agreement at upcoming International Civil Aviation Organization (ICAO) talks on a carbon offsetting and reduction scheme for international aviation. Their leadership role could also increase the effectiveness of the mechanism in its early years (JFI May16’16). Including the US and China, a total of 26 countries accounting for 39% of global greenhouse gas emissions have now ratified the Paris deal, and the UN hopes more will join this ‘wave of ambition’ and formally endorse the accord in the runup to a special ratification event in New York on Sep. 21. To come into force, the Paris Agreement must be ratified by at least 55 countries accounting for an estimated 55% of global emissions, a threshold that could now be crossed by the end of this year. If this happens, the landmark climate deal would be the fastest international agreement to ever come into force, after already breaking the UN’s firstday signature record earlier this year (JFI Dec.21’15).