Money

How to cut aviation emissions by 20% overnight

Published

12 months ago

October 11, 2022

After years of dithering, the International Civil Aviation Organisation (ICAO), has finally come to an agreement on a plan to reduce aviation’s carbon emissions.

At a meeting in Montreal, the ICAO pledged to support an “aspirational” net zero aviation goal by 2050. The plan, seen as a compromise by many, was accepted by the 193 countries who are members of ICAO. However green groups say the deal is weak and not legally binding. Let’s take a closer look.

The Problem with Flying

There’s no denying that flying is a huge contributor to global carbon emissions. In 2018, aviation accounted for about 2% of global CO2 emissions, according to the BBC. And those emissions are only projected to grow in the coming years as the demand for air travel continues to increase. That’s why it’s so important that we have a plan in place to reduce those emissions. Otherwise, we’re facing some pretty dire consequences down the road.

The ICAO Deal

So what exactly does this deal entailed? Well, under the terms of the agreement, ICAO member countries have committed to stabilizing carbon dioxide emissions from aviation at 2020 levels by 2025. After that, they’ve pledged to cut those emissions by half by 2050, compared to 2005 levels.

However, it’s important to note that these targets are entirely voluntary and there are no consequences for countries that don’t meet them. That’s why many environmentalists are criticizing the deal as being too weak and ineffective. Nevertheless, it’s a start and it’s better than nothing.

But aviation analyst Geoffrey Thomas from Airline Ratings says governments around the world could easily cut emissions by making changes to air traffic control.

Money

Xi Jinping is taking over China’s sharemarket

Published

7 hours ago

October 3, 2023

ticker NEWS

China’s economy sees President Xi Jinping asserting control over its sharemarket, a move raising eyebrows globally.

Xi’s government has unveiled a series of measures aimed at consolidating authority over the country’s stock market, signalling a desire for greater economic stability and control.

The reforms include stricter regulations for listing on Chinese stock exchanges, with companies needing to meet more stringent criteria to go public.

Additionally, the government is increasing its oversight of foreign listings by Chinese firms, a move seen as an attempt to prevent capital flight.
#featured

Money

Investors worry as Tesla misses targets

Published

7 hours ago

October 3, 2023

ticker NEWS

Tesla reported lower-than-expected quarterly deliveries, sending its shares into a downward spiral.

The EV giant’s stock tumbled as investors expressed concerns over the company’s ability to meet its ambitious growth targets.

In the third quarter of this year, Tesla delivered a total of 220,500 vehicles, missing Wall Street’s estimates.

This disappointing performance raised doubts about the company’s ability to keep up with the soaring demand for its EVs, especially as competitors continue to enter the market. #featured