India's CORSIA entry to add 140 million tonnes CO2 offsetting demand

India's participation in the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) is projected to create an additional 140 million tonnes of CO2 in global offsetting requirements between 2027 and 2035, according to an ICF report. This move could represent approximately 10% of projected global CORSIA obligations over the period, with foreign carriers expected to account for 65% of the new demand. The added demand comes as airlines face existing shortages of eligible emissions units, with only 72 million units covered by compatible host-country authorisations as of August, against an estimated need of 200-250 million units by January 2028. This imbalance could support higher prices for CORSIA-eligible credits, particularly those with necessary government authorisations. Platts assessed Phase 1 CORSIA credits at $12.75 per tonne on 7 October.

This summary was written by carbon.fyi from the reporting linked above. It is not a quotation; cite the original source.