INTERNATIONAL CIVIL AVIATION ORGANIZATION (ICAO)

This award is bestowed upon The International Civil Aviation Organization (ICAO), recognised as the Global Catalyst for Aviation Carbon Offsetting. This award celebrates ICAO's establishment of CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation), which represents a singular and groundbreaking achievement as the world's first mandatory, global, sectoral market-based mechanism specifically aimed at stabilising CO2 emissions from international aviation.

By imposing a critical compliance obligation on participating airlines, CORSIA consistently generates significant, sustained demand for high-integrity carbon credits, thereby stimulating crucial investment in global emissions reduction projects. Its rigorous eligibility criteria, including the pivotal requirement for 'corresponding adjustments' for post-2021 emission reductions, are fundamental for upholding unparalleled environmental integrity and preventing deleterious double counting under Article 6 of the Paris Agreement.

CORSIA's substantial projected credit demand and its widespread endorsement by major jurisdictions, such as the European Union, unequivocally underscore its transformative impact on global climate action within the challenging and hard-to-abate aviation sector. ICAO's leadership through CORSIA sets a powerful precedent for sector-specific climate governance and market mechanisms.