For decades, the #aviation industry has long resisted all but ineffective international regulation on emissions.
The UN body @icao has only agreed to regulations that promote growth📈and has done nothing to reduce emissions.
International aviation will be regulated by a cheap #offsetting scheme. Why is that bad?
❌The offset price is less that €1/tonne of CO2
❌Passengers will pay €2 on a flight to NY to offset emissions
❌These sums won't incentivise the uptake of clean fuels or technology
We need true solutions to decarbonise the sector:
✅a carbon market for aviation that prices emissions
✅more sustainable fuels in planes
✅more investment in clean technology like hydrogen
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BREAKING: Carmakers’ indirect emissions are 50% higher than reported.
Car manufacturers are misleading investors who face a ticking 'carbon bomb', as mandatory disclosure of Scope 3 (lifetime) emissions is set to kick in next year.
Here's why shares in carmakers are so toxic🧵
2/ EU will require that financial institutions disclose their Scope 3 emissions in 2023. This will hit asset managers with exposure to carmakers.
Unlike manufacturers of mobile phones, say, the majority (98%) of a carmaker's emissions come under scope 3 – primarily the use of🚗
3/ From an investment perspective, this will make car companies almost as carbon intensive as the oil industry.
Who benefits from cutting petrol and diesel taxes?
Rich people with large, polluting cars who drive the most:
In 🇳🇱 the richest 10% drive 36,000km a year and need 2,600 litres of petrol
vs
The poorest 10% who drive 2,500km and buy 190 litres
Instead of subsidising the rich to drive big cars, EU finance ministers should agree *targeted social measures* to help low-income households that rely on cars to get to work
eg, the 5% of drivers in 🇩🇪 and 9% of drivers in 🇫🇷 who are 'forced car users'
There needs to be *EU-wide coordination* of measures to avoid a race to the bottom:
❌No fuel tourism for the cheapest petrol⛽️
❌Excise duty cuts already agreed should end after 6 months📆