A Win-Win Solution to Abate Aviation CO2 Emissions
Name
MITJPSPGC_Rpt318.pdf
Size
769.73 KB
Format
Adobe PDF
Checksum (MD5)
af5cc6a252e383112d1fbc42a27437ae
Author(s)
Winchester, N.
Date Issued
August 2017
Publisher
MIT Joint Program on the Science and Policy of Global Change
Citation
Report 318
Series/Report no.
MIT Joint Program Report Series;318
Abstract
We outline a benchmark carbon dioxide (CO2) intensity system with tradable permits for the aviation industry that will incent in-sector emission abatement opportunities that cost less than the social cost of carbon (SCC). The system sets benchmark emission intensities (CO2 emissions per revenue ton kilometer) by route group and facilitates flexibility in meeting the benchmarks by allowing airlines to sell permits if they operate more efficiently than the benchmarks, and buy permits if they do not meet the benchmarks. The CO2 benchmark system could operate concurrently with existing measures to mitigate aviation CO2 emissions, will reduce the number of offsets needed to achieve carbon-neutral growth, and provide another (optional) lever to address fairness issues in climate regulations. Moreover, by providing a blueprint for other industries to price marginal emissions at the SCC, a CO2 benchmark system could preserve the ‘carbon budget’ for use by high-cost abatement industries such as the aviation industry.
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