Trafigura Sees ‘Confusion' Over Aviation Emissions Scheme [BNN Bloomberg (Canada)]
INTL CONSL AIRLNS S/ADR (ICAGY)
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Source: BNN Bloomberg
There has been “a lot of discussion, a lot of confusion,” over the Carbon Offsetting and Reduction Scheme for International Aviation, or Corsia, said Hannah Hauman, global head of carbon trading at the Singapore-based commodities firm. Airlines from about 130 countries, representing more than 90% of international airline emissions, have joined the first voluntary phase of Corsia from 2024 to 2026. Corsia is a United Nations initiative compelling airlines to monitor and report their emissions while buying carbon credits to offset them. “The demand clock has already begun ticking,” Hauman said Wednesday at APPEC 2024, a conference hosted by S&P Global Commodity Insights in Singapore. “But the reality is, we do not actually see clarity on what the supply side of the market looks like.” Aviation is one of the heaviest-emitting industries, and among the most difficult to decarbonize. While the first phase of Corsia is voluntary for states, compliance becomes mandatory from 2027. C
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