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Which Emissions Unit Criteria are agreed for CORSIA?

Here is an extract from the Resolution concerning EUC:
Regarding the Emissions Unit Criteria (EUC):
a) the Council to develop, with the technical contribution of CAEP, the SARPs and related guidance material for Emissions Unit Criteria (EUC) to support the purchase of appropriate emissions units by aircraft operators under the scheme, taking into account relevant developments in the UNFCCC and Article 6 of the Paris Agreement, for adoption by the Council as soon as possible but not later than 2018;
b) the Council to establish, with the technical contribution of CAEP, a standing technical advisory body on the Emissions Unit Criteria (EUC) to make recommendations to the Council on the eligible emissions units for use by the CORSIA;
c) the Council, with the technical contribution of CAEP, to periodically review the EUC SARPs and related guidance material, as appropriate, to promote compatibility with future relevant decisions under the Paris Agreement.
It is important that EUC will be set of general eligibility criteria, it will not define exact projects and programs that generate eligible carbon credits. The technical quality criteria of the emissions units used in CORSIA will be crucial. These criteria need to make sure that a tonne of CO2 emitted by an aircraft operator will really equal to a tonne of CO2 saved somewhere else. 

Programmes that generate offset credits, for purchase by aircraft operators, should meet a range of elements covering the need for:
  • clear methodologies and protocols, and their development process
  • scope considerations
  • offset credit issuance and retirement procedures
  • identification and tracking
  • legal nature and transfer of units
  • validation and verification procedures
  • program governance
  • transparency and public participation provisions
  • safeguarding systems to address environmental and social risks
  • sustainable development criteria
  • avoidance of double counting, issuance and claiming
A set of general criteria for credits already agreed by the GMTF:
  • additional
  • based on a realistic and credible baseline
  • quantified, monitored, reported, and verified
  • have a clear and transparent chain of custody
  • represent permanent emissions reductions
  • assess and mitigate against potential increase in emissions elsewhere
  • only counted once towards a mitigation obligation
  • do no harm
Technical Advisory Body (TAP) on the Emissions Unit Criteria that will make recommendations to the Council on the eligible emissions units for use by the CORSIA. At this moment the Interim Programme Assessment Group (IPAG) is working in the place of the TAP to propose eligible criteria to the Council as soon as possible to support the so-called "early action".
Vintage of credits
A carbon credit’s “vintage” refers to the year that the emissions reduction took place. This will likely be one of the criteria.
UNFCCC Clean Development Mechanism (CDM) units
The Mechanism allows emission‐reduction projects in developing countries to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2. There is an explicit reference to UNFCCC units. This shows preference but not automatic inclusion.
Aviation related projects
Another source of eligible units might be aviation related projects. Such as projects focused on emissions reduction at airports or in domestic aviation sector.
European Union Aviation Allowances (EUAA) are also a possible candidate although they do not directly represent an offset. Eligibility of these units will largely depend on the future of EU ETS-CORSIA cooperation.
Reducing emissions from deforestation and forest degradation (REDD+) is a mechanism developed by Parties to the UNFCCC. It creates a financial value for the carbon stored in forests by offering incentives for developing countries to reduce emissions from forested lands and invest in low-carbon paths to sustainable development. Developing countries would receive results-based payments for results-based actions. REDD+ goes beyond simply deforestation and forest degradation, and includes the role of conservation, sustainable management of forests and enhancement of forest carbon stocks.
REDD+ credits are considered to have a huge potential to be eligible for CORSIA.

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