links about us archives search home
SustainabiliTankSustainabilitank menu graphic
SustainabiliTank

 
 
Follow us on Twitter

 

Posted on Sustainabilitank.info on August 11th, 2017
by Pincas Jawetz (PJ@SustainabiliTank.com)

From KIMO’s IISD:

The International Civil Aviation Organization and its 191 member States agreed in October 2016 to implement a Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) to limit future increases in greenhouse gas emissions from the sector.

Now countries are undertaking technical discussions on what types of emission reductions will be eligible for airlines to use under CORSIA. While the discussions are yet to conclude, one potential option could be Reducing Emissions from Deforestation and Forest Degradation, or REDD+.

Recent IISD analysis, available here, finds that Colombia could meet some of this demand through its current and projected supply of emissions reduced from deforestation and forest degradation, and through forest restoration.

By choosing to participate in the early Phases of this scheme, starting in 2021, the Colombian Government could generate more than $300 million in additional investment at an estimated cost of $23 million to its aviation industry, which represents a small fraction – less than 0.4 percent – of global emissions from international aviation. Depending on the level of participation and other factors, the potential revenues could be much higher.

Key Findings:

The International Civil Aviation Organization (ICAO) in October 2016 created a potential global demand of more than 2 billion tonnes of investment-grade emissions reductions from 2021 to 2035 that could be partially met through continuing development of programs and projects in Colombia.

Colombia has the potential to benefit by linking this market demand to domestic supply through eligible supply-side activities, including REDD+, structured via existing World Bank and business investment tools and structures and its many on-going long-term international investment supply contracts for emissions reductions.
<
strong>
The value to Colombia of supplying the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) is, conservatively, around $300 million in additional private institutional investment.

To facilitate this investment, the Colombian national government policy must deliver the necessary institutional and legal conditions for REDD to succeed, at national and subnational jurisdictional levels, building on those currently applied to existing programs and projects.
Colombia can increase the impact of CORSIA and augment the associated demand for offset credits by opting-in to the scheme starting in 2021, and by encouraging others in the region to do the same.

For more information, please check out the full analysis.

Linking the ICAO Global Market-Based Mechanism to REDD+ in Colombia

Be Sociable, Share!

Leave a comment for this article

###