IATA urges global support for CORSIA aviation carbon scheme

The International Air Transport Association (IATA) is calling on governments to strengthen the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) as the framework marks its tenth anniversary. Adopted at the 2016 International Civil Aviation Organisation (ICAO) Assembly, CORSIA represents the first global market-based measure for an industrial sector and serves as a follow-up to the 2015 Paris Agreement.

Currently, more than 130 countries participate in the scheme. By the end of this year, CORSIA is expected to have mitigated approximately 200 million tonnes of CO2. Projections indicate that by 2027, the scheme will cover roughly 85% of global aviation emissions and could mobilize up to $120 billion in climate finance for emissions-reduction and carbon-removal projects over its lifecycle.

Marie Owens Thomsen, IATA’s Senior Vice President Sustainability and Chief Economist, described the framework as a “global solution to a global challenge” that preserves a level playing field for the industry. The anniversary coincides with the European Union’s review of its Emissions Trading System (EU ETS), which includes proposals to extend the system to destinations within 5,000 km of Frankfurt.