About CORSIA

In 2016, the International Civil Aviation Organization (ICAO), a special agency of the United Nations, adopted a global carbon offsetting mechanism to address GHG emissions from international aviation beyond reductions to be achieved from advancements in fuel efficiency, technology, operations and infrastructure. Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) is the first global market-based measure for any industry sector. It aims to reach net zero carbon emissions by 2050 through both in-sector measures (such as new technologies and sustainable aviation fuel deployment) and out-of-sector measures (such as offsetting). 

The offsetting requirements of CORSIA apply from 2021 and will be implemented in phases.

• 2021-23: Pilot Phase
  Only flights between countries that volunteer to participate in CORSIA are subject to offsetting requirements.
• 2024-26: Phase I
  Voluntary participation continues. Only routes between participating countries carry offsetting obligations.
• 2027-35: Phase II
  All international flights subject to offsetting requirements, with certain exemptions

For more information, please visit ICAO’s CORSIA website: https://www.icao.int/environmental-protection/CORSIA/Pages/default.aspx     

Reserve offsets meet CORSIA criteria

To ensure the environmental integrity of CORSIA, the ICAO Council adopted emissions unit eligibility criteria that provide a robust framework for the evaluation of offset programs and project types.

Phase I:

The Reserve is approved for Phase I of CORSIA, having demonstrated conformance with Program Design Elements and Carbon Offset Credit Integrity Assessment Criteria.

Phase II:

The Reserve has applied for Phase II, with results expected later this year.

Credit eligibility requirements

In order to be eligible under CORSIA, credits from the Reserve’s voluntary carbon crediting program must:

• Report SDG benefits
• Submit Request for CRTs to be Designated as CORSIA Eligible-Authorized Form
• Submit the CORSIA Insurance Deed of Undertaking
• Submit Evidence of an Approved Insurance Mechanism, from the Reserve’s approved product list; insurance protects against liability if a government fails to apply, reverses, reduces, or modifies a corresponding adjustment
• Receive a valid Letter of Authorization (LoA) from the Host Country government confirming that a corresponding adjustment will be applied, and the Host Country will not account for these reductions in their own NDCs

Credit labeling under CORSIA

• Please review the updated policy memo on the labeling process.

Criteria for Approved Insurance Mechanisms under CORSIA

• Please review the Criteria for Approved Insurance Mechanisms under CORSIA.