More than 99% of major global airlines have complied with the first step of Europe's mechanism to charge the aviation industry for carbon emissions within their emissions trading system (ETS).

EU finance ministers are considering the deployment of carbon allowance revenues gathered from the EU ETS to fund climate aid in developing countries, under a planned $100 billion-a-year global relief fund.

The Port of Los Angeles has become the first seaport in the US to adopt an international clean air programme that will see a monetary award given to ocean carriers that use their most efficient and lowest emission vessels at the Port.

A new Platts report released this week by the European Commission has found that European industry operators and factories submitted a total of 254.6 million carbon dioxide offset credits, covering 13.4% of their total verified emissions for 2011.

The Sustainable Shipping Initiative (SSI) has launched a series of collaborative action plans aimed at developing a shipping industry that is both profitable and sustainable by 2040.

The UNFCCC has launched a pioneering interest-free loan scheme to support Clean Development Mechanism (CDM) projects in some of the world's least developed countries.