[Carbon Market Trends Brief] A Decade of CORSIA: Host Country Approval Becomes the Bottleneck in the Aviation Carbon Market
2026-10-16
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| SUMMARY
In the CORSIA market, the volume of credits with actual authorization for international transfer and use is emerging as a more critical supply factor than potential issuance capacity. According to the ICAO, the potential supply from 10 phase 1 eligible programs is estimated at 700 million to 1 billion units, yet only around 44 million units have been designated as CORSIA-eligible in registries. ICAO identified difficulties in obtaining LoA from host countries as a major cause of this gap. As a result, host countries' approval procedures and Article 6 implementation policies are becoming key factors shaping airlines' credit procurement options, alongside project issuance capacity.
This shift highlights how competition in the carbon market is expanding beyond credit quality and price to include authorization status and actual transferability. In CORSIA, where cancellation deadlines are fixed, demand for pre-approved credit volumes may increase, potentially leading to price differentiation based on eligibility and delivery timelines. Going forward, procurement strategies will need to consider not only potential issuance volumes available for international transfer.
#VoluntaryCarbonMarket #CORSlA #Letter_of_Authorization
#Article6 #VCM
Related Articles & References
1) ICAO, A decade of CORSIA: Building a global approach to international aviation emissions
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