In a significant development, the governing council of the International Civil Aviation Organization (ICAO), the United Nations agency responsible for global aviation standards, has given its approval for a new jurisdictional REDD+ (Reducing Emissions from Deforestation and Degradation) program. This program will supply carbon credits during the pilot phase of the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), making it the first compliance-based carbon market to accept international deforestation credits.
While the demand for offsets from airlines under CORSIA is expected to be minimal in its initial years, ICAO’s decision carries substantial influence over the voluntary carbon market, which is experiencing significant growth.
Ruben Lubowski, Chief Natural Resource Economist at the Environmental Defense Fund (EDF), emphasized the importance of ICAO’s inclusion of large jurisdictional REDD+ programs in CORSIA. He stated, “This decision sends a critical signal to companies and policymakers about the value of tropical forest protection in achieving climate goals.”
In simple terms, jurisdictional REDD+ refers to projects that operate within a country’s national REDD+ policy. It is a complex subject that involves addressing deforestation and forest degradation on a broader scale, considering the jurisdiction as a whole.
This milestone decision by ICAO reflects the recognition of the role forests play in combatting climate change. Avoided deforestation projects have the potential to significantly reduce greenhouse gas emissions by preserving and protecting forests, which act as vital carbon sinks.
By accepting internationally avoided deforestation credits, the compliance-based carbon market under CORSIA opens avenues for countries and regions with effective forest conservation policies to participate in carbon offsetting initiatives. This encourages greater investment in forest protection programs and offers additional incentives for sustainable land use practices.
As the aviation industry continues to pursue carbon neutrality and emissions reduction, the acceptance of deforestation credits by the compliance-based carbon market signifies a step towards broader collaboration and alignment between various sectors in addressing climate change. It underscores the importance of safeguarding our forests and leveraging their immense potential in mitigating global greenhouse gas emissions.
