CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation) is an international regulation that comprises all 192 member states of the International Civil Aviation Organization (ICAO). CORSIA was adopted during the 39th Assembly session in Fall 2016. Its main purpose is to offset increases in CO2 emissions from international civil aviation above 2020 levels. As CORSIA is an international scheme, it covers emissions from international flights and offsetting requirements refer to the obligation to offset one part of the emissions produced during international flights between two participating ICAO member states. It is anticipated that CORSIA will mitigate around 2.5bn tonnes of CO2 between 2021 and 2035, which is an annual average of 164mn tonnes of CO2. This is equivalent to the total annual CO2 emissions from the Netherlands across all sectors.
To better understand the CORSIA scheme, our partner, FCC Aviation, a multilingual team of regulatory compliance specialists with more than 10 years of experience in compliance with aviation tax and emission regulations, explains it as:
CORSIA stands for Carbon Offsetting and Reduction Scheme for International Aviation. From 1 January 2019, participating aircraft operators must monitor, go through a verification and report emissions from all their international flights. In contrast to EU, Swiss and UK ETS, CORSIA is not an emissions trading system. It is an offsetting scheme which means that only emissions exceeding 2019 baseline emissions have to be offset through the purchase and cancellation of eligible emissions units. The rules of monitoring, reporting and verification rules are similar to what we know from ETS. European flight departments have the advantage that they can report their emissions from international flights to their ETS regulator on the same emissions report that is used for ETS compliance.- Tobias Konik, Chief Executive, FCC Aviation