Guyana sets a global example with their quality carbon offset achievement

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Our Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) is the first global market-based measure for any sector, representing a cooperative approach that moves away from a “patchwork” of national or regional regulatory initiatives. CORSIA offers a harmonized way to reduce emissions from international aviation, minimizing market distortion while respecting the special circumstances and respective capabilities of ICAO Member States. It complements the other elements of the basket of measures by offsetting the amount of CO2 emissions that cannot be reduced through the use of technological improvements, operational improvements, and sustainable aviation fuels with emissions units from the carbon market.

On 28 February 2024, we welcomed the Government of Guyana’s milestone announcement on the authorization of carbon units for use in CORSIA for the 2024-2026 compliance period. Under the ICAO Council approved Architecture for REDD+ Transactions (ART) programme, 4.64 million CORSIA-eligible units have been issued and authorized by Guyana, that are now accessible to aircraft operators for meeting offsetting obligations.

This pivotal decision applies the provisions of Article 6 of the Paris Agreement within the framework of the United Nations Framework Convention on Climate Change (UNFCCC). Guyana’s host-country authorization ensures the environmental integrity of these carbon units, emphasizing the prevention of double-claiming between CORSIA and other national environmental purposes.

As the first South American country to voluntarily participate in CORSIA, Guyana sets a precedent for environmental commitment to the scheme’s objectives. This announcement paves the way for aircraft operators to confidently utilize CORSIA-eligible units and fulfill their offsetting requirements.

ICAO Council President, Mr. Salvatore Sciacchitano, expressed his welcome: “Guyana’s announcement is a testament to the effective alignment of CORSIA and Article 6 of the Paris Agreement, reinforcing the avoidance of double-counting and providing assurance to aircraft operators in the integrity of their carbon unit purchases.”

ICAO Secretary General, Mr. Juan Carlos Salazar, also commended the initiative: “Guyana’s authorization is a positive and timely market signal, bolstering investment in emissions reduction projects. We encourage other State governments to follow this significant example, aiding airlines in securing CORSIA compliant carbon units to meet their offsetting requirements.”