OREANDA-NEWS. October 07, 2016. Boeing [NYSE: BA] today released the following statement in response to the International Civil Aviation Organization's adoption of a carbon-offset system:

"Boeing commends the International Civil Aviation Organization for adopting a carbon-offset system for international aviation that will help the industry achieve its goal of reducing emissions.

"This historic agreement represents the world's first sector-based, global market mechanism to address climate change and is complementary to the first-ever CO2 standard for airplane emissions that ICAO adopted earlier this year. These two significant agreements result from several years of collaboration by international experts from ICAO member states, the aviation industry and non-governmental organizations.

"The market-based carbon-offset system and CO2 standard are integral to the four-pillar approach the industry is taking to stop the growth of emissions by 2020 and cut them in half by 2050 relative to 2005 levels. These efforts also include: investing in new, more efficient aircraft; improving operational performance of the in-service fleet; improving the efficiency of air traffic management and other infrastructure; and scaling up the use of sustainable alternative fuels.

"We continually innovate to improve the efficiency and environmental performance of our products and services. The 787 Dreamliner family reduces fuel use and CO2 emissions by 20 to 25 percent compared to airplanes it replaces. The 737 MAX, with first delivery expected in 2017, will reduce fuel use and emissions by 20 percent compared to the original Next-Generation 737."