Carbon Offsetting And Reduction Scheme For International Aviation Research Articles

Accounting of aviation carbon emission in developing countries based on flight-level ADS-B data

The aviation industry is one of the key areas to achieve carbon neutrality due to its difficulty in fuel substitution. In developing countries, aviation industry will be in a period of rapid growth for a long time, which means that it will be more affected by the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). Therefore, aviation carbon emission reduction in developing countries needs to be paid more attention. This study utilizes the full sample data of global developing countries' fight-level information of June 2018, including a total of 1,048,655 flight data, to account for the aviation fuel consumption, CO2 emissions, and emission intensity of 109 developing countries based on 70 aircraft types. The impacts of aircraft structure and flight pattern on energy efficiency and emission intensity are explored by combining micro fight-level aviation data with spatial index decomposition method. The results show that the average emission intensity of developing countries is actually better than that of developed countries. Most of them are concentrated in the range of 65–85 gCO2 per seat-kilometers. The emission reduction potential of traditional measures in developing countries can theoretically close to 20%, of which about three-fifths comes from the adjustment of aircraft structure, while the remainder comes from the improvement in flight pattern. There is still a lot of room for structural adjustment of long-haul large-sized aircraft in developing countries by avoiding less efficient four-engine aircrafts and choosing more efficient ones in terms of new fleet deployments. But the potential for restructuring of medium-sized aircraft is limited, thus needing to further improve efficiency by increasing flight distance. Large-sized aircraft should be avoided as much as possible within the range that medium-sized aircraft can reach, which is crucial in route planning in many developing countries.

Greenhouse gas emissions trends and drivers insights from the domestic aviation in Thailand

Domestic aviation is a swiftly expanding contributor to global greenhouse gas (GHG) emissions. Presently, economic volatility and the Coronavirus disease (COVID-19) crisis have resulted in the decline of domestic aviation, but domestic aviation is rapidly recovering in many countries. However, from a GHG emissions viewpoint, the domestic aviation sector is largely unenforced even though the International Civil Aviation Organization's (ICAO) Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) provision for international aviation is currently in place. Accordingly, the knowledge base on emissions and their drivers from domestic aviation is weak, especially in developing countries, thus hindering an evidence-based policy debate. In this context, we have estimated and analyzed the pre-COVID-19 GHG emissions and their trends from commercial domestic aviation in Thailand; and provided insights on the role of key drivers that influence GHG emissions that are expected to be useful not only for Thailand but also for other developing countries. Emissions are estimated following Intergovernmental Panel on Climate Change (IPCC) Tier-II. Specifically, activity-based landing/take-off (LTO) cycle and cruise. This is compared to the Tier-I method, and key drivers were analyzed using an index decomposition method. The total annual average GHG emissions for all LTO cycles and cruises of commercial domestic aviation for 2015–2020 was 2254 Th. tonnes of CO2-eq. During the LTO cycle of the aircraft, GHG emissions were at an average of 983 Th. tonnes of CO2-eq. Additionally, during the cruise stage, emissions averaged 1270 Th. tonnes of CO2-eq. The choice of accounting methods (i.e., IPCC Tier II vs. Tier I) seems to have had only nominal implications. Our analysis showed that, in the 2008–2020 period, the aviation activity effect and economic growth were the key decisive factors in this sector's GHG emissions growth. It was followed by the fuel energy intensity levels and the population effect in descending order of impact. These findings have significant ramifications for present and future policies aimed at decreasing GHG emissions, aiding Thailand in achieving its climate targets by 2050, and enhancing energy efficiency as the domestic aviation market adapts.

A bibliometric analysis on sustainable aviation fuels: core technologies, challenges and trends

International initiatives such as the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) have set goals for the complete de-carbonization of international aviation in this century. It motivated increasing numbers of Sustainable Aviation Fuel (SAF) research projects. The objective of this paper is to provide an overview on SAF research to point one to its foundations and recent advances. Data from the Web of Science database was collected and investigated. Important papers, cooperation networks, textual, productivity and trends analysis is provided. The most productive countries are in the global north, led by the United States and China. Big developing nations such as India and Brazil need to improve. The future of a sustainable aviation sector is heading in the direction of replacement of conventional jet fuel by synthetic hydrocarbon fuels by the end of the century. But there are still doubts about its viability both from the environmental and practical aspects, as there are concerns about feedstock availability and life cycle emissions. Fischer-Tropsch Synthesis, Alcohol-to-Jet and Hydroprocessing of Esters and Fatty Acids appear as the main SAF technologies for drop-in replacements. Longer term prospects are for the development of more efficient aircraft designed for renewables and non-hydrocarbon energy sources.

Degrowth, Air Travel, and Global Environmental Governance: Scaffolding a Multilateral Agreement for a Smaller and More Sustainable Aviation Sector

Abstract In recent years, a growing body of literature on degrowth has compellingly identified limitations involved in decoupling economic growth from its environmental impacts. Despite this, the institutions governing the global environment continue to pursue “green growth” principles. In this article, we showcase how global environmental governance might differ if the degrowth critique were taken more seriously. We use the United Nations–based Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) to illustrate how a multilateral environmental agreement (MEA) might differ if its foundational premises were centered on degrowth as opposed to green growth. To do this, we develop a conceptual scaffold to support the construction of a degrowth-centered MEA on sustainable global aviation. While a degrowth alternative to CORSIA is admittedly unlikely given contemporary capitalist norms in global environmental governance, our proposed scaffold nevertheless adds to the growing body of work envisioning alternative scenarios for a just and sustainable postgrowth future.

German Environmental Concerns on Carbon Offsetting and Reduction: How it Deals with European and International Rules?


 
 
 This paper analyzes the international climate protection instrument Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), which is based on the International Civil Aviation Organization (ICAO) Assembly No. A39-3, and its relation to the European Union Emissions Trading System (EU-ETS) in aviation, which is based on Directive 2008/101/EC. It is still unclear whether or to what extent the already existing EU-ETS in aviation can continue due to CORSIA. Questions regarding the implementation, enforcement and practicability of the climate protection instruments remain. The aim of this paper is to present a comparative analysis of the two climate protection instruments. In particular, to explore the question of the legal relationship between CORSIA and the EU-ETS in aviation as well as the legal compatibility of the two climate protection instruments is essential. It will also explore how the European Union (EU) and especially Germany intends to implement CORSIA in parallel to the EU-ETS in aviation. Germany actively participates in international and European discussions and contributes towards harmonizing the implementation of CORSIA with the EU-ETS, however, implementing CORSIA raises environmental concerns and brings challenges due to conflicting European and international rules. Therefore, this paper explores how Germany manages these conflicts and strives to strike a balance between regional and global approaches to mitigate the environmental impact of aviation. This conceptual paper analyzes relevant international, European, German legal instruments and textbooks, journal articles, academic works, and reports.
 
 

Parallel Universe: EU Cross-forum Coherence on Climate in International Transport Fora

ABSTRACT Following the Paris Agreement, the European Union (EU) prioritised climate negotiations in the International Civil Aviation Organization (ICAO) and the International Maritime Organization (IMO), attempting to work in a way that was consistent with the United Nations Framework Convention on Climate Change (UNFCCC). Examining the negotiations of ICAO CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation, 2016) and the IMO Initial Strategy (2018), I demonstrate that the EU’s objectives and external action were in fact incoherent with its approach to the UNFCCC. This incoherence appeared to be the result of a limited appetite for climate action in ICAO/IMO. In the former, this situation was exacerbated by the forum’s technical nature, mismatched priorities and limited coordination between EU climate and transport spheres. In the latter, a lack of political interest at the EU and international levels also played a role.

METRICS FOR SUSTAINABLE AVIATION FINANCE

ABSTRACT Aviation generates 2-3% of global emissions and if business continues as usual is on course to produce double these emissions by 2037. Airlines, aircraft and engine manufacturers are under increasing pressure to reduce its contribution to global warming and decarbonize operations in a bid to offset passenger growth. The industry has been working on the four pillars of sustainability goals, namely, Sustainable Aviation Fuels (SAF), New Technology and Design, Carbon Offsets and Reduction, and improved operations and Infrastructure. Further sustainability innovation in the aircraft finance world is gaining momentum with airlines and lessors issuing sustainability-linked securities or the so-called green bonds. While there is a consensus that Environment, Social and Governance (ESG) compliant financing enjoys more investor appetite, there is increasing debate centered on whether and which financing qualifies as green or sustainable. This paper discusses the steps undertaken by the aviation industry to move towards sustainable aviation, current challenges faced by the industry, financial resources available to achieve its goal, and the methodology to score airlines to determine if they qualify to raise sustainable finance. Keywords Sustainability, Aviation, Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), Emission Trading System (ETS), Carbon offsets, Sustainable Aviation Fuel (SAF), biofuels, ICAO, IATA.

Exploring the equity in allocating carbon offsetting responsibility for international aviation

This paper compares the offsetting responsibilities of countries under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) and four equity principles, that is, historical responsibility (HR), ability to pay (AP), equal per capita emissions (EP), and emissions intensity (EI). We also use the method of preference score compromise (PSC) to design a commonly acceptable compromise mechanism. We find that, first, the USA, the UAE and China will be affected most if the mechanism is changed from CORSIA to another. Second, CORSIA is a good choice for the USA, Germany, France, and Australia, while other countries with the highest revenue tonne kilometers in international aviation may have strong motivations to change from CORSIA to AP or EP. Third, EI does not bring the lowest cumulative offsetting costs for any country, but is most similar to the compounding mechanism under PSC. Finally, some policy implications are provided.

Life Cycle emission of selected Sustainable Aviation Fuels – A review

Sustainable Aviation Fuels (SAF) are one of the most promising mid-term solution to reduce GHG emission from aviation sector. Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) established a new appellation for SAF, which is CORSIA eligible fuel (CEF). SAF to be considered as CEF should meet much more requirements, which are described in this article, but also should reduce GHG emission at least at 10% compared to conventional aviation fuel. This article focus on Life Cycle Assessment of SAF and CEF and analyzes the life cycle emission factors of CEF harvest from CORSIA document, but also compare that values for HEFA with other researches. Article shows how much important is Land Use Change factor in life cycle emission assessment, which can significantly change the final LCA value. Results from the analyses are that the lowest life cycle emission factor has miscanthus from Fischer-Tropsch conversion process, which is equal to -22.5 gCO2e/MJ, but also from Alcohol to Jet conversion process, which is -10.7 gCO2e/MJ (ATJ based on isobutanol) and -6.8 gCO2e/MJ (ATJ based on ethanol). For HEFA, which is the most used SAF pathway, the lowest life cycle emission factor for CEF has jatropha oil and the value was 10.4 gCO2e/MJ. The results analyzed in the article show also how different life cycle emission factors for the same feedstock and the same pathway could be depending on the cultivation, transport and other stages of feedstock's life cycle.

Air-Rail Alliances in the Context of Liability and Environmental Protection

Since the deregulation of airlines in the 1970s and 80s the aviation industry has constantly tried to find new ways to engage with the increasingly competitive aviation market by expanding their outreach through strategic partnerships and global alliances. Over the past 10 years airlines have strengthened their partnerships with railway companies to offer more convenient connections for passengers to their hubs and link remote areas to their route network. These Air-Rail Alliances have helped airlines to stay competitive in the modern aviation market. This short paper will briefly examine two legal issues pertaining to Air-Rail Alliance namely whether an airline can be held liable in case of an accident during the train leg of the journey and how Air-Rail Alliances help airlines to meet their carbon emission reduction goals under the European Union Emissions Trading Scheme (EU ETS) and the ICAO Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). Especially during the COVID-19 pandemic, Air-Rail Alliances proved to be a good vehicle for airlines to replace specific flights in their network. The paper will first explain basic terminology relating to the airline’s business before explaining the structure of Air-Rail Alliances in more detail. Afterwards, it will address the question as to whether an airline can be held liable in the case of an accident during the train leg of the journey. The paper will answer this question by arguing that airlines cannot be held liable under international aviation law but rather the train operator under the lex loci of the state in which the accident occurred. Finally, the paper will discuss the structure of both the EU ETS and CORSIA and argue that Air-Rail Alliances are a valuable tool for airlines to meet their CO2 reduction goals. It will be highlighted that both regimes are flexible and adaptive enough to take the unprecedented consequences of the COVID-19 pandemic into account and underline how the law can be adaptive in such a changing environment.

Alternative fuels’ blending model to facilitate the implementation of carbon offsetting and reduction Scheme for International Aviation

• Alternative jet fuel selection and blending model is developed. • The model facilitates the implementation of UN’s aviation carbon offsetting scheme. • The model mitigates operators’ emissions and minimizes their fuel-related costs. • A cost reduction by 0.13–8.08% is achieved for carbon tax of 3–180 $/tonne CO 2 . The aviation sector contributes 4.1% to the global economy, although it was responsible for 2.8% of the net global CO 2 emissions in 2019, and it contributed around 12% of the CO 2 emissions produced from the transportation sector alone in 2018. Hence, the UN’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) can serve as a cost-effective mechanism to promote low carbon fuels and mitigate CO 2 emissions, where integrating alternative jet fuels may reduce the cost associated with CORSIA's offsetting requirements. Therefore, this study considers the following alternative production pathways; Gas to Liquid, Oil to Jet, Gas to Jet, Sugar to Jet, Catalytic Hydro-thermolysis Jet and Alcohol to Jet; for the development of an optimal fuel blending model. A multi-objective model is developed and transformed into a singular objective function for a convenient minimisation of the total fuel-related costs for operators under CORSIA. The model considered the reclaiming possibility of offsetting costs when a CORSIA's eligible fuel is utilised. The results demonstrated that an increase in carbon price increases the total net cost of fuel purchasing and carbon taxing, therefore, enhancing the opportunity for airlines to integrate larger shares of alternative fuels. In addition, the presented model managed to select optimal fuels' blending ratios considering carbon credit approach, which achieved a total cost reduction by 0.13% to 8.08%, assuming a carbon tax range of 3–180 $/tonne CO 2 .

Evaluating the efficiency of global airlines: A new weighted SBM-NDEA approach with non-uniform abatement factor

Over the past decade, issues related to environmental controls in the airline industry have arisen, attracting increased attention from policy and decision makers. Several global initiatives, including the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) and the European Union Emissions Trading System (EU-ETS), have been proposed to reduce carbon dioxide (CO2) emissions. As passenger numbers grow, airlines could become one of the largest contributors to global warming. In practice, airline operations involve a series of network processes, and these processes can be grouped into two subprocesses: a) production and b) airline services. Based on our literature review, only a few studies have examined the efficiency of airlines using network data envelopment analysis (NDEA) instead of the conventional data envelopment analysis (DEA) framework (also known as the black-box approach). In addition, the traditional treatment of undesirable outputs (e.g., CO2 emissions) in the DEA approach involves the use of a single abatement factor to reduce both undesirable and beneficial outputs. Performance assessment using this weakly disposable Shephard technique may overestimate the technical efficiency of the evaluated units. The main objective of this study is to investigate the performance of the two subprocesses of global airlines by incorporating CO2 emissions using multiple abatement factors based on the Kuosmanen technology. To capture different airline groupings, we use a network DEA model to estimate the technical efficiency of global airlines in alliance and non-alliance groups. A sample of 29 global airlines in 2018 is used in the study. The results reveal that the main source of overall technical inefficiency of most airlines is scale inefficiency in both production and airline services.

Compensation and reduction of carbon dioxide emissions in international aviation

Abstract: Sustainable development, i.e. the coherence of economic and social progress with environmental protection, are goals that must be achieved in order to prevent global environmental degradation. Reducing the emission of harmful compounds and noise is a current problem raised in various sectors of the economy. Through the ICAO International Civil Aviation Organization, the aviation sector worldwide is committed to meeting its commitments to reduce air emissions from aircraft. Despite the dynamic development of the unmanned aerial vehicle sector, manned aviation remains the leading means of passenger and cargo transport in civil aviation. In view of the emission of compounds having a negative impact on the environment by airplanes, it was deemed necessary at the global level to take steps aimed at a real limitation of the functioning of aviation, which is destructive to the nature. The International Civil Aviation Organization (ICAO) has developed a program that introduces a new approach to reducing negative effects on the environment called CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation). The article presents the principles of its operation and implementation, as well as the project phases. The practical impact of the CORSIA program on aircraft operators and examples of costs for operators related to the implementation of the project were indicated. The aspect of mutual coexistence for the CORSIA program and the EU CO2 emissions trading system (EU-ETS) was also raised. European Emissions Trading Scheme - also known as the "Community carbon market" or the ETS. It is the first, by 2017, the largest and currently the largest, after China, CO₂ emissions trading system in the world. Keywords: CORSIA, EU ETS, CO2; Emission; Civil aviation; Sustainable development of aviation

Blockchain solutions for carbon markets are nearing maturity

Blockchain solutions for carbon markets are nearing maturity

A time sensitive graph model for conflict resolution with application to international air carbon negotiation

The uneven time required for decision making by negotiators can greatly affect the results of international negotiations. A novel time sensitive graph model is developed to analyze international negotiations in which the duration of time is different for negotiators, or called decision makers, to implement each action. In this novel model, the process of negotiation is divided into multiple phases. Decision makers may fail to achieve desired outcomes due to time constraints when approaching the deadline of each stage. Time sensitive stabilities are defined to describe this particular behavior patterns of decision makers. The interrelationships between classical stabilities and time sensitive stabilities are investigated. Propositions are provided to indicate how equilibrium can be affected by the change of action time. This novel methodology is applied to an air carbon negotiation participated by three representative decision makers, the European Union (EU), major developing countries, and the United States (US), under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). The time sensitive equilibrium at the end of Baseline Phase explains modification of the requirements for monitoring the CORSIA baseline emissions under the impact of the COVID-19 pandemic. The time sensitive equilibrium achieved after June 2020 suggests that the EU Carbon Trading System for Monitoring Air Carbon Baseline (EU ETS MRV) could be adjusted by the end of the Pilot Phase provided that both developing and non-EU developed countries put the EU under pressure by filing appeals at the International Civil Aviation Organization (ICAO) meetings not later than March 2022.

How does COVID-19 affect the implementation of CORSIA?

This paper investigates the impacts of COVID-19 on the implementation of Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). By using the Automatic Dependent Surveillance-Broadcast (ADS-B) aviation data, the forecast methods of Gompertz and Logistic curves and four COVID-19 scenarios, we find the following results. First, the international aviation activities of developing countries are on the track of rapid growth, while the trends of developed countries are relatively slow or even close to saturation. Second, our results provide retrospective support for the decision of the ICAO Council to revise the implementation baseline of CORSIA. The adjustment of the baseline has saved countries considerable purchasing offsetting costs, especially for China, the United States, the United Arab Emirates, and the United Kingdom. Third, although the adjustment of the baseline can lower the economic pressure of the global aviation industry, CORSIA will still bring considerable financial burden to international aviation enterprises.

Regulatory and Policy Analysis of Production, Development and Use of Sustainable Aviation Fuels in the United States

The United States, spurred in part by international developments, is expanding its law and policy to incentivize the use of sustainable aviation fuels. While the U.S. has agreed to participate in the International Civil Aviation Organization’s (ICAO’s) Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), it has only recently adopted federal rules that define greenhouse gas emission reduction standards for certain classes of airplanes (effective January 2021). However, such standards focus on engine efficiency rather than the fuel burned. For sustainable aviation fuels, the U.S. continues to rely on voluntary programs at a federal, state, and regional level. The federal Renewable Fuel Standard program allows producers to opt in. In addition, states have started to allow sustainable aviation fuel producers to “opt in” to their programs; this includes California’s Low Carbon Fuel Standard, Oregon’s Clean Fuels Program, and Washington’s newly adopted Clean Fuels Program. Other states are also starting to consider such programs. Elsewhere, states like Hawaii are starting to support SAF production in other ways, including through tax mechanisms. In addition, regional and private efforts to adopt and/or promote sustainable aviation fuels are underway. This piecemeal approach—due in part to the lack of cohesive U.S. federal policy—stands in contrast to the European Union’s Renewable Energy Directive and Emissions Trading System, and adoption of policies by European countries. Because of aviation’s international nature, tracking what is happening in Europe matters greatly for U.S. carriers. As the U.S. works to meet its international obligations through CORSIA, finding a way forward with sustainable aviation fuel in the United States may depend on a more defined federal policy. Actions taken by both the EU and European countries offers some guidance for actions that could be taken by the U.S. Even in the absence of more defined measures, better tracking of voluntary measures is a critical step.

Initial Long-Term Scenarios for COVID-19's Impact on Aviation and Implications for Climate Policy.

The COVID-19 pandemic had a dramatic impact on aviation in 2020, and the industry's future is uncertain. In this paper, we consider scenarios for recovery and ongoing demand, and discuss the implications of these scenarios for aviation emissions-related policy, including the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) and the EU Emissions Trading Scheme (ETS). Using the Aviation Integrated Model (AIM2015), a global aviation systems model, we project how long-term demand, fleet, and emissions projections might change. Depending on recovery scenario, we project cumulative aviation fuel use to 2050 might be up to 9% below that in scenarios not including the pandemic. The majority of this difference arises from reductions in relative global income levels. Around 40% of modeled scenarios project no offset requirement in either the CORSIA pilot or first phases; however, because of its more stringent emissions baseline (based on reductions from year 2004-2006 CO2, rather than constant year-2019 CO2), the EU ETS is likely to be less affected. However, if no new policies are applied and technology developments follow historical trends, year-2050 global net aviation CO2 is still likely to be well above industry goals, including the goal of carbon-neutral growth from 2019, even when the demand effects of the pandemic are accounted for.

Revising the EU ETS and CORSIA in times of the COVID-19 pandemic: challenges for reducing global aviation emissions

ABSTRACT Since fast-growing emissions from the aviation sector have become a major contributor to climate change, global efforts have been undertaken to reduce them effectively. The European Union Emissions Trading System (EU ETS) and the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) are two existing market-based measures (MBMs) for addressing aviation emissions, whose implementation has been affected by the Coronavirus 2019 (COVID-19) pandemic. This article aims to examine challenges that the pandemic has posed on both systems by assessing the policy options for revising the EU ETS provisions on aviation, as well as the political debates regarding amendment to the CORSIA design in June 2020. Key policy insights From the environmental, economic and international perspectives, none of the six policy options proposed in the Inception Impact Assessment regarding future implementation of CORSIA alongside the EU ETS is optimal to achieving the EU’s multiple goals in revising its ETS. This article recommends the adoption of a hybrid option, which would help maintain international intra-EU/European Free Trade Association (EFTA) flights under the EU ETS scope to achieve EU climate targets and at the same time still integrate some features of CORSIA’s design in implementation. Concerning the reduction of free allowances for aviation, the swift phase-out option should be considered in conjunction with plans to develop sustainable aviation fuels (SAFs). While long-term effects of the pandemic on the effectiveness of CORSIA remain to be seen, its immediate impacts can be noticed in the weakening of this scheme’s credibility and stability in implementation.

Emissions trading in the aviation and maritime sector: Findings from a revised taxonomy

Market-Based Measures (MBMs) and especially emissions trading schemes (ETS) have been considered by the International Maritime Organization (IMO), as a supplementary set of initiatives to decarbonize international shipping.While respective decisions of the IMO are still pending, the global aviation industry has already accumulated experiences from ETS operations; hence the knowledge transfer is possible as this research field is largely unexplored. This paper aims to provide a detailed literature review of studies investigating the EU Emissions Trading System (EU ETS) for aviation and the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) as well as to deliver a taxonomy of ETS design and its effects. The findings are then compiled and clustered according to the taxonomy and explored in detail. Moreover, this paper discusses findings of this taxonomy that could support further on MBM in international shipping, such as important implications, and provisions for carbon financial market design.