- A UNFCCC/ICAO regime that ensures that the transnational aviation sector contributes its specific fair share to global efforts, including negotiating, adopting and operationalizing a new legal instrument to establish an open, sectoral cap-and-trade ETS or offset mechanism for aviation emissions. Such an MBM could be underpinned by an accurate and compulsory monitoring, reporting and verification (MRV) process, long-term and medium-term emissions reductions commitments, legal consequences for non-compliance and compatibility with the overall UNFCCC climate change regime.