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The World s Largest Carbon Market Is Set for a Historic Revamp Europe s Shipowners Are Concerned

coronavirus 38 mins ago The European Commission, the EU s executive arm, is set to present its green fuel law for EU shipping on Wednesday. It is part of a broader package of reforms designed to meet the bloc s updated climate targets. To be sure, the EU has committed to reducing net carbon emissions by 55% (when compared to 1990 levels) through to 2030, becoming climate neutral by 2050. The EU says this will require a 90% reduction in transport emissions over the next three decades. To meet these targets, the EU plans to undergo the biggest revamp of its Emissions Trading System since the policy launched in 2005. Already the world s largest carbon trading program, the ETS is now widely expected to expand to include shipping for the first time.

South Korean Agency for Defense Development develops palm oil-based SAF : Biofuels Digest

In South Korea, the Aju Business Daily newspaper reports that the Agency for Defense Development has successfully produced palm oil-based aviation biofuel following four years of research. The test facility can produce 5 metric tons of SAF annually using a solid catalyst. The research was driven by IATA’s push to increase the transition to SAF. The fuel produced was tested to see if it complied with ICAO’s Carbon Offsetting and Reduction Scheme for International Aviation. Currently, the country produces biodiesel from 160,000 tons of used cooking oil annually. 

Over 100 States now participate in ICAO s Carbon Offsetting and Reduction Scheme for International A

08-Jul-2021 3:29 AM Direct News Source Over 100 States now participate in ICAO s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA)  ICAO Secretary General Dr. Fang Liu announced today that 16 small island and lesser-developed States had notified her of their decisions to voluntarily participate in ICAO’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), bringing the total number of participating states to 104 and adding significant momentum in support of ICAO’s climate work. CORSIA is an important element to complement the basket of measures that ICAO is promoting to reduce the climate impact of flying. The other measures being undertaken include technological innovation, operational improvement, and the implementation of sustainable aviation fuels.

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