Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) is an emission mitigation approach for the global airline industry, developed by the International Civil Aviation Organization (ICAO) and adopted in October 2016. The plan is to "offset" the grow emission after 2020.
The ICAO Council have approved 6 carbon-offsetting programmes and emissions eligible units (EEUs) for CORSIA’s 2021-2023 pilot phase:
- American Carbon Registry (ACR)
- China Greenhouse Gas (GHG) Voluntary Emission Reduction Program (CCER)
- Clean Development Mechanism (CDM)
- Climate Action Reserve (CAR)
- The Gold Standard (GS)
- Verified Carbon Standard (VCS)
ICAO also adopted TAB’s recommended generally applying to activities initiated January 1, 2016 with emissions reductions occurring through December 31, 2020.
In July 2020, the 88 states are confirmed to participate in COSIA from 1 January 2021. For a given year (starting in 2021), the states included in ICAO document entitled "COSIA States for Chapter 3 State Pairs" define the State paris subject to CO2 offsetting requirements in COSIA in that year.
We are closely following ICAO process and building up our portfolio for COSIA. And Our portfolio includes the projects from 4 of the approved standards like CCER, CDM, GS and VCS. We also provide innovative finance product like , guarantee credit delivery, credits swap, structured product options, forward contract.
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