The International Air Transport Association (IATA) is organising a Procurement Event in late 2024 on the Aviation Carbon Exchange (ACE) for airlines to purchase Eligible Emissions Units (EEUs), necessary for compliance with the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) Phase 1, covering 2024-2026 obligations.
The State of Guyana is currently the only provider of CORSIA-eligible EEUs, with an estimated need for airlines ranging from 64 to 162m units; existing EEUs must be canceled by January 31, 2028.
This event aims to stimulate the market for EEUs, promote liquidity and transparency, and prevent a costly last-minute rush for limited emissions credits, highlighting the urgency for other states to contribute to the CORSIA framework.
The ACE serves as a trading platform for airlines and stakeholders to acquire CORSIA compliant emissions reductions, offering features like financial settlements and transaction options for forward and multi-year purchases, thereby facilitating compliance with global aviation carbon emission standards.
