CORSIA Phase 1 progress 🛫 In case you missed it, our VP Policy Ben Rattenbury shared his thoughts on the UK's proposed £100/tCO2 fine for noncompliance with CORSIA enforcement. This move is crucial in providing clarity for airlines operating under the program. As Ben points out, the lack of clear penalties could lead to confusion and noncompliance. By embracing high-quality CORSIA-eligible credits, airlines can meet their obligations, without the risk of fines, while protecting their reputations. Check Ben’s thoughts below 👇 And if you need further guidance on CORSIA Phase 1, there’s a link to our recent blog in the comments 👇👇 #CORSIA #CarbonCredits #NetZero #SustainableAviation
Great to see the UK show leadership on CORSIA enforcement, with a £100/tCO2 fine for any noncompliance proposed yesterday (link below). Very few CORSIA states have so far set out what the these penalties will be, which at best creates confusion and at worst could lead some airlines to wonder if perhaps it’s cheaper to just not bother complying at all (on the assumption there won’t be repercussions). Clearly buying high quality CORSIA-eligible credits should be the more attractive option - CORSIA-eligible means the obligation is met and the fine is avoided at a much lower cost; high quality reduces the reputational risk (and in some places, litigative risk of a greenwashing case being brought). I hope in 2025 we see all 126 CORSIA phase 1 states clarify their enforcement regimes, as this will be crucial to helping the whole system work as planned. But that's just my view - very interested in what others think!
Read on the blog here: Decoding CORSIA First Phase: https://www.sylvera.com/blog/decoding-corsia-phase-1