In 2016, governments adopted the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). CORSIA is the first global market-based measure that offers a harmonized way to reduce emissions from international aviation, minimizing market distortion, while respecting the special circumstances and respective capabilities of ICAO Member States (further details are available here). Hence, the aviation sector is committed to reducing greenhouse gas emissions. However, for hard-to-abate greenhouse gas emissions, offsetting is allowed.
Carbon credits issued by the Global Carbon Council (generated from 1 Jan 2016 through 31 Dec 2020) are eligible for use toward CORSIA offsetting requirements in the 2021 – 2023 pilot phase of CORSIA. The GCC Program has also been approved as conditionally eligible for the first phase (2024-2026) compliance period (further details are available here).
