Airlines ‘set for carbon credit crunch by 2030’
By the end of the decade, the number of carbon credits airlines will seek to offset their emissions could exceed the supply of high-quality credits fourteenfold.
So claims carbon market solutions provider Abatable, which has warned that, after a “turbulent start” to the aviation sector’s global carbon offsetting programme, a supply-side crunch in carbon credits is now looming on the horizon.
The International Civil Aviation Organisation (ICAO) requires airlines to mitigate most of the growth in their emissions beyond a 2019 baseline with eligible carbon credits. The requirement is a key facet of the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
CORSIA compliance will be mandatory for all airlines from 2027, following pilots from 2021 to 2023 and an ongoing voluntary adoption phase.
While Abatable foresees that many airlines( article continues at edie )