1. Avoiding dead-lock over CO 2 emissions from international aviation and shipping Transatlantic Low-Carbon Transport Dialogue mark.major@ec.europa.eu@ec.europa.eu 21st June 2011 Unit B3 – International carbon market, aviation and maritime DG Climate Action European Commission

2. Issues Globally agreed 2°C objective Globally agreed 2°C objective Rapid growth in international aviation and maritime emissions Rapid growth in international aviation and maritime emissions Global targets Global targets Are technical and operational measures enough Are technical and operational measures enough Lowest cost pathway Lowest cost pathway Progress in ICAO and IMO Progress in ICAO and IMO Revenues from global MBM to global fund Revenues from global MBM to global fund

3. EU approach Fully and committed to global agreements Fully and committed to global agreements Active EU climate policy Active EU climate policy Joint action with Norway, Iceland…. Joint action with Norway, Iceland…. Commitments to tackle international transport emissions Commitments to tackle international transport emissions Equal treatment / non distortions of competition Equal treatment / non distortions of competition Open for bi-lateral discussion and negotiation Open for bi-lateral discussion and negotiation

4. Conclusions Action is needed – but global agreements are elusive. Action is needed – but global agreements are elusive. Low/negative marginal abatement costs (especially in maritime transport) Low/negative marginal abatement costs (especially in maritime transport) Action now – saves costs later Action now – saves costs later First mover advantage / jobs and growth First mover advantage / jobs and growth Action can be taken in parallel to seeking a global agreement – not incompatible. Action can be taken in parallel to seeking a global agreement – not incompatible.