Airlines unlikely to require significant amounts of CORSIA offsets for six years, finds Refinitiv analysis

Only an unlikely very quick aviation sector recovery from the Covid-19 pandemic in the next three years would create any demand for carbon offsets from airlines in the 2021-2023 pilot phase of ICAO’s CORSIA carbon offsetting scheme, finds a report by market analysts Refinitiv. This follows the ICAO Council decision in late June to amend CORSIA’s baseline to protect the sector from an “inappropriate” financial burden during the recovery. If the Council decides in 2022 to continue with the amended baseline through to the scheme’s conclusion in 2035, offset demand will be close to the level it would have been without the pandemic but only in a very quick recovery scenario. Meanwhile, a study carried out for Brussels-based NGO Transport & Environment concluded the demand for CORSIA offsets will likely be 50% lower than originally expected for the period 2021-2030 as a result of the baseline change [...]

GreenAir Online

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