Bloomberg: The United Nations aviation agency approved the first steps toward a market-based approach to reduce emissions in the $708 billion airline industry.
The International Civil Aviation Organizations assembly of nations from the U.S. to Russia and the European Union today agreed to complete a plan in the next three years for a market to start in 2020. The accord for airlines, responsible for 2 percent of pollution worldwide, is unprecedented for a single global industry.
In a blow to the European...