Tuesday, September 6, 2016
ICAO has released the latest draft text of its forthcoming global market-based mechanism for addressing greenhouse gas emissions from international air transport. The plan, which is now being referred to as the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), will be submitted for consideration at the upcoming meeting of the ICAO Assembly. The plan now calls for three chronological stages, a pilot phase from 2021-2023, a voluntary phase from 2024-2026, and mandatory participation beginning in 2027. Europe, China, and the United States have all publicly pledged to begin participating during the early stages.