Reed Smith Client Alerts

The ICAO CORSIA initiative has commenced monitoring, reporting and verification obligations imposed on aircraft operators with effect from 1 January 2019. Data collected will form the baseline to determine subsequent offsetting requirements. Aircraft operators attributed to a country likely to be participating in the voluntary compliance phase from 2021 to 2023 should also take note of the various deadlines for compliance and monitor for updates from the ICAO Council on the offset credits that would qualify under CORSIA.

Authors: Peter Zaman Nicholas Rock Matthew R. Yeo Adam Hedley

Background

As highlighted in our previous client alert, the General Assembly of the International Civil Aviation Organisation (ICAO) passed a resolution in October 2016, paving the way for the implementation of the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). CORSIA is a global market-based measure intended to cap CO2 emissions from international civil aviation at their 2020 levels, enabling carbon-neutral growth for the aviation sector from 2020.

The ICAO Council, during the 214th Session held in June 2018, adopted the First Edition of the International Standards and Recommended Practices, Environmental Protection – CORSIA (Annex 16, Volume IV), which came into effect from 1 January 2019. The Council also approved the ICAO CORSIA CO2 Estimation and Reporting Tool (CERT) for small aircraft operators to monitor and report their CO2 emissions.