Money raised would help finance a $100-billion per year Green Climate Fund, the centerpiece of any successor deal to the Kyoto Protocol, to help poor countries adapt to and mitigate the effects of global warming.

In its draft conclusions, the EU Council of Ministers “invites the Commission to prepare a reflection paper by June on [the] carbon pricing of global aviation and maritime transportation taking into account the developments in IMO [International Maritime Organisation] and ICAO [International Civil Aviation Organisation].”

Last May, EU finance ministers called for the IMO and ICAO to "develop without delay a global policy framework that avoids competitive distortions or carbon leakage".