ICAO reaches agreement on carbon offset in historic conclusion
The International Civil Aviation Organisation (ICAO) last night finally concluded the long awaited historic agreement to implement a market-based measure that will support airlines' efforts to stabilise emissions with carbon neutral growth.
The agreement – strongly backed by IATA and its member airlines - was reached by states attending the 39th ICAO Assembly which ended yesterday in Montreal, Canada.
ICAO’s 191 member states agreed to implement a Carbon Offset and Reduction Scheme for International Aviation (CORSIA).
"The historic significance of this agreement cannot be overestimated. CORSIA is the first global scheme covering an entire industrial sector. The CORSIA agreement has turned years of preparation into an effective solution for airlines to manage their carbon footprint. Aviation is a catalytic driver of social development and economic prosperity—it is the business of freedom making our world a better place. This agreement ensures that the aviation industry’s economic and social contributions are matched with cutting-edge efforts on sustainability. With CORSIA, aviation remains at the forefront of industries in combatting climate change," said Alexandre de Juniac, IATA’s director general and CEO.
CORSIA is set to commence with a voluntary period (2021-2026) after which it will become mandatory. "The enthusiasm and commitment of states in the voluntary period is impressive. Even states that would normally not be required to participate—small island nations and developing economies—have shown their commitment by signing up. The list of states volunteering for the first phase now numbers 65, giving CORSIA which we estimate will cover more than 80% of growth post 2020. And we continue to encourage more states to join," said de Juniac.