International business doubt that the United Nation's aviation body would launch a global cap-and-trade market for airlines before 2015, according to a survey by consultants PwC.
In its annual GHG Market Sentiment Survey, PwC found survey participants believing instead that governments will implement similar measures to regulate aircraft emissions.
ICAO and its members are working on a scheme that they hope will replace the EU ETS, which from this year includes all commercial airlines using EU airports.
The inclusion has triggered mass opposition to the scheme, with countries including the US, China and India threatening retaliatory trade measures.
A large number of survey participants predicted that carriers would simply comply with the new rules.
The survey also found that European carbon prices could treble from current levels to average above 19 euros (USD$23.80) over the next eight years if European governments cut supply of permits.