Marrakech, 9 November — IETA and the Climate Markets and Investors Association (CMIA) today released a joint statement supporting the inclusion of emissions offsets from Reduced Emissions from Deforestation and Forest Degradation (REDD+) projects in the new market mechanism being developed by the International Civil Aviation Association (ICAO).
IETA and CMIA are pleased that ICAO’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) seems likely to make REDD+ projects eligible for airlines to use in meeting their obligations under the mechanism.
However, the two organisations are concerned that there is no clarity yet on the scale or manner in which REDD+ credits may be used.
IETA and CMIA call on ICAO to allow REDD+ projects into its market system as soon as possible, to allow the development of REDD+ projects on a wider scale. At present only a very few countries have implemented REDD+ to generate credits on a national scale.
Please click here to read IETA and CMIA’s position, and makes the case for early inclusion of REDD+.