Psaans Agreement

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PSAANS agreement refers to the voluntary agreement reached among major airlines and aviation industry stakeholders in addressing climate change by reducing carbon emissions and improving fuel efficiency. The acronym stands for „Carbon Offsetting and Reduction Scheme for International Aviation“ (CORSIA) under the International Civil Aviation Organization (ICAO).

The agreement aims to achieve carbon-neutral growth in the aviation industry by 2020 by implementing measures such as the use of biofuels, upgrading air traffic management systems, and improving aircraft technology. It also includes a market-based mechanism where airlines offset their carbon emissions by purchasing carbon credits from other industries that have reduced their carbon footprint.

The PSAANS agreement is a significant step towards reducing the carbon footprint of the aviation industry, which accounts for around 2 to 3% of global carbon emissions. It is also an important step in meeting the Paris Agreement`s goal of limiting global temperature rise to below 2°C above pre-industrial levels.

The implementation of the agreement faced some challenges, including the COVID-19 pandemic, which significantly impacted air travel and reduced the demand for carbon offsets. However, the aviation industry remains committed to achieving carbon-neutral growth in the long term.

In conclusion, the PSAANS agreement is a crucial initiative in addressing climate change and reducing carbon emissions in the aviation industry. It represents a significant step towards achieving sustainable and responsible aviation.