The International Civil Aviation Organization (ICAO) has granted eligibility to four additional carbon standards for its Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). The newly approved programmes—Gold Standard, Verra, Global Carbon Council, and Climate Action Reserve—will enable more project developers to offer verified carbon credits to the aviation sector.
A glimpse from below of an airplane gliding high in the sky. AI generated picture.
CORSIA, a pioneering industry-wide carbon offsetting programme, allows airlines to meet emission reduction goals by purchasing carbon credits. With this expansion, voluntary carbon market (VCM) participants anticipate increased demand for credits, potentially surpassing available supply.
Margaret Kim, CEO of Gold Standard, praised the ICAO approval, describing it as a significant step for the organisation and its partners in supporting global decarbonisation. ‘We are proud to provide project developers with expanded opportunities to support global decarbonisation efforts while upholding rigorous standards for environmental integrity and sustainable development’, Kim said.
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Verra, another major player, expressed similar enthusiasm as its Verified Carbon Standard Program gained ICAO endorsement for CORSIA’s First Phase from 2024 to 2026. This follows Verra’s involvement in the 2021–2023 Pilot Phase.
The First Phase brings key updates, including the need for an Article 6 authorisation from each project’s host country and stricter guidelines to prevent double-claiming of carbon credits between CORSIA and a country’s own emissions targets. Verra indicated these adjustments are expected to be finalised soon.
ICAO’s earlier approvals of the American Carbon Registry and the Architecture for REDD+ Transactions highlight the aviation industry’s continued commitment to achieving sustainable growth through robust carbon offsetting.
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