The International Air Transport Association (IATA) has said that the world's airlines have agreed to new fuel efficiency and carbon emission targets which go much further than the levels required through regulation, Reuters has reported. Carriers, airports and aerospace firms had pledged to improve fuel efficiency by 1.5% a year annually until 2020, IATA said. 'No other industry has been able to achieve what we have done,' IATA Director-General Giovanni Bisignani said. 'We are on the high ground and government must now catch up.'