- IATA marked the tenth anniversary of CORSIA
- More than 130 countries participate in CORSIA
- CORSIA is expected to have mitigated approximately 200m tonnes of CO2 by the end of 2026
- From 2027, CORSIA will cover approximately 85pc of global emissions
- Up to $120bn could be mobilised in climate finance through to the end of the scheme
The International Air Transport Association has marked the tenth anniversary of the International Civil Aviation Organization assembly resolution to establish the Carbon Offsetting and Reduction Scheme for International Aviation with a call to governments to reinforce the foundations of this landmark step in aviation’s decarbonisation. Adopted at the 2016 ICAO Assembly, CORSIA established the first global market-based measure for an industrial sector and was an important follow-up to the Paris Agreement a year earlier.
Today, more than 130 countries participate in CORSIA, and by the end of this year, the scheme is expected to have mitigated approximately 200m tonnes of CO2. From 2027, it is estimated CORSIA will cover approximately 85pc of global emissions. Through to the end of the scheme, up to $120bn could be mobilised in climate finance to support emissions reduction and carbon removal projects globally.
The tenth anniversary coincides with the European Union’s review of the EU Emissions Trading System. The EU is considering proposals that would extend the EU ETS to destinations within 5,000 kilometres of the EU and create a mechanism through which comparable carbon-pricing systems could be developed with third countries. IATA estimates that the proposed scope expansion would increase EU ETS compliance costs by 40pc to €280bn over the 2027-2040 period.
Marie Owens Thomsen shared “As the first global, sector-wide climate agreement for aviation, CORSIA showcases the best of international collaboration: a global solution to a global challenge. It preserves a level playing field for aviation while channeling climate finance to support emissions reductions around the world. And in a world increasingly characterised by fragmentation, that is a powerful reminder of what can be achieved when states work together.”
