- Global aviation experts have agreed to the first emissions-reduction standards for aircraft in a deal formulated by the International Civil Aviation Organization's environmental panel.
- The agreement will require new aircraft designs to meet the standards by 2020, and designs already in production to comply by 2023. There is also a cutoff date of 2028 for planes that don't comply with the standards.
- When fully implemented, the rules are expected to reduce carbon emissions more than 650M tons between 2020 and 2040, equivalent to removing over 140M cars from the road for a year, according to the White House.
- The newest Boeing (NYSE:BA) and Airbus (OTCPK:EADSY) designs already meet the proposed efficiency standards, due to demands for fuel savings from the airlines.