As the airline industry contends with the grim financial implications of Covid-19, UN’s International Civil Aviation Organization (ICAO) announced on March 13 a critical step forward by selecting six programs for airline use when purchasing credits. VCS is among the selected programs and includes REDD+.
The Carbon Offsetting and Reduction Scheme for International Aviation, or Corsia, calls for airlines to compensate for their carbon growth beyond 2020 by buying emission credits in order to meet the climate challenge. Only credits from emissions-cutting projects beginning in the five years starting from January 1st, 2016, will be allowed.
Source: Bloomberg Green, 16 March 2020 https://www.icao.int/environmental-protection/CORSIA/Documents/TAB/Excerpt_TAB_Report_Jan_2020_final.pdf