Montreal - The International Air Transport Association (IATA), together with carbon market stakeholders, is calling on governments worldwide to urgently address the extremely limited supply of carbon credits available for airlines to fulfill their obligations under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
Specifically, the signatories call on governments to issue Letters of Authorization (LoAs) which enable the release of CORSIA Eligible Emissions Units (EEUs) for purchase by airlines.
The timely issuance of LoAs is key to:
• Creating a robust and transparent market for CORSIA EEUs,
• Facilitating the successful implementation of CORSIA,
• Safeguarding the environmental integrity of international aviation’s climate commitments.
“CORSIA is a vital part of aviation’s global climate strategy. Through it, airlines mitigate their climate impact by funding verified emissions reductions in other sectors. In generating this climate finance CORSIA also plays a key role in both environmental and socio-economic progress, especially in developing countries. To unlock CORSIA’s climate finance potential and ensure its contribution to aviation’s decarbonization, states must authorize the release of EEUs. That is one of our top messages to the 193 member states at the ICAO Assembly,” said Yue Huang, Assistant Director Climate Policy, in an ICAO Skytalks session at the 42nd ICAO Assembly, in Montreal, Canada. (....)