The International Civil Aviation Organisation (ICAO) emerged on 4 October 2013 from its much-anticipated 38th General Assembly meetings in Montreal with what looks like a consensus on the use of market based mechanisms (MBM) for international aviation emissions. The parties confirmed that by 2016 the ICAO will have "tools in place" to develop a market-based measure and a world-wide carbon management plan for aviation, to commence in 2020. The scope of the General Assembly decision has significant implications for the application of the EU ETS to the aviation sector.
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