LONDON — (March 8) IETA welcomes the decision by the International Civil Aviation Organisation Council to approve a set of emissions units criteria — guidelines that will help determine eligible emissions units under the Carbon Offsetting and Reduction System for International Aviation (CORSIA). The text includes provisions to ensure delivery of real and verifiable emissions reductions, as well as preventing the double-counting of reductions.
“Preventing double-counting of reductions is essential to build market confidence,” Eva Weightman, IETA’s aviation policy director, said. “Investors need to know that they have clear title to reduction units - and that there can be no competing claims.”
The ICAO Council also approved the formation of a Technical Advisory Body (TAB) to select which emissions reduction standards and programmes will be eligible for its global carbon market.
“We’re pleased and encouraged that ICAO has taken the next step towards the operationalisation of CORSIA,” said Weightman.
“Time is of the essence,” Robert Stevens, head of IETA’s Aviation Task Force added. “Generating emissions reductions often takes years — from the start of construction of a project through to the first issuance of carbon credits — so it’s important that the TAB starts work as soon as possible.”
The TAB will be empowered to select emissions standards and programmes that will be eligible for CORSIA, and will make important decisions including a start date for eligibility. Emissions reductions generated prior to this start date will not be eligible for the market.
“This week, CORSIA took a big step forward, but more work is needed to bring it into commercial operation,” said Dirk Forrister, IETA’s CEO. “We stand ready to provide further input into ICAO’s stakeholder engagement process to ensure that it benefits from the experience and expertise of carbon market professionals as CORSIA kicks into gear.”