ACR at Winrock International and Architecture for REDD+ Transactions (ART), for which Winrock serves as secretariat, are the first two crediting programs approved to supply credits for first phase of CORSIA, 2024-2026.
ACR and ART were notified in late March by the ICAO Council of approval to supply CORSIA-eligible emissions units for the 2024-2026 compliance period. Eligible credits include those issued to activities that started their first crediting period after January 1, 2016 and that represent emissions reductions that occurred from January 2021 through December 2026.
ACR and ART are once again among the first crediting programs to receive approval to supply credits for a new phase of CORSIA. In this case, the first two crediting programs to receive approval for the 2024-2026 compliance period are both enterprises of Winrock International. In 2021, ART and ACR were the first crediting programs to be approved to offer post-2020 vintage credits for CORSIA’s 2021-2023 pilot phase.
“ACR, alongside our sister Winrock enterprise ART, looks forward to continuing to be at the vanguard of carbon market innovation and impact, and to working with the broad range of stakeholders who share our desire to create confidence in the environmental and scientific integrity of high-quality carbon credits in order to accelerate transformational climate action,” said Winrock’s Mary Grady.
ICAO is a specialized agency of the United Nations that manages the standards that govern international aviation. In 2016, ICAO approved the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) as a global market-based mechanism to achieve carbon-neutral growth in international aviation starting in 2020. CORSIA is expected to reduce or offset between 2.5 and 4 billion tons of CO2-e through 2035.
This latest approval for CORSIA’s first phase comes alongside the release by the Integrity Council for the Voluntary Carbon Market (ICVCM) of its Core Carbon Principles (CCPs), a set of fundamental principles for high-quality carbon credits. ICVCM’s requirements for crediting programs, such as ACR and ART, have been streamlined for ICAO-approved programs to build on existing CORSIA requirements, with additional criteria around effective governance, credit tracking, transparency, safeguards, and robust, independent third-party validation and verification.