Montreal/New Delhi, (IANS) : Global airlines’ trade body International Air Transport Association (IATA) on Friday said the industry will continue to invest in new technologies to improve their environmental performance.

IATA said this while welcoming the historic agreement to implement a market-based measure that will support airlines’ efforts to stabilise emissions with carbon-neutral growth.

The agreement — “Carbon Offset and Reduction Scheme for International Aviation” (CORSIA) — was concluded on late Thursday night at the International Civil Aviation Organisation’s (ICAO) 39th assembly in Montreal, Canada.

ICAO’s 191 member states have agreed to implement CORSIA.

“Today’s agreement shows what can be accomplished when we work together. The aviation industry understands that sustainability is critical,” Alexandre de Juniac, IATA Director General and Chief Executive, was quoted as saying in a statement.

“Airlines will continue to invest in new technology — particularly new aircraft and sustainable alternative fuels — to improve their environmental performance. And we will continue to ask governments to do their part with investments to modernize air traffic management and with supportive polices to help commercialize sustainable alternative fuels for aviation,” said de Juniac.

The IATA Director General and Chief Executive observed that the agreement ensures the industry’s economic and social contributions are matched with cutting-edge efforts on sustainability.

CORSIA is set to commence with a voluntary period (2021-2026) after which it will become mandatory.

“By itself, CORSIA will not lead to a sustainable future for aviation. Along with this global market-based measure, the industry will continue to drive its four-pillar strategy on climate change, comprising improvements in technology, operations and infrastructure, complemented by CORSIA,” the statement said.

To ensure that CORSIA is fair and without market distortions, the scheme will include provisions to deal with special circumstances such as those of fast-growing airlines and airlines which have made significant investments to improve environmental performance already.