The report, ‘Bridging the aviation CO₂ emissions gap: why emissions trading is needed’ by David Lee of Manchester Metropolitan University explored three different scenarios for cutting emissions: improved technology, accelerated development of biofuels, and the application of carbon pricing models.

It found that by 2050, improved technology would raise carbon emissions to 1,638 billion tonnes of carbon per year (from 391 million tones in 2006), while greater use of biofuels would cut emissions by just 5%. Carbon pricing was the only option that would erase the ‘emissions gap’.

“Given that the current regional MBMs extended to 2050 achieved the single largest [emissions] reduction, an operational and effective global scheme would evidently achieve even greater reductions,” Professor Lee concluded. MBMs refer to market-based measures.