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IATA announces second EEU procurement following successful inaugural event

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IATA announces second EEU procurement following successful inaugural event
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Peter Cerda Regional Vice President, The Americas | International Air Transport Association - IATA

The International Air Transport Association (IATA) has announced plans for a second CORSIA Emissions Unit Eligibility (EEU) procurement event in the first quarter of 2025. This follows a successful initial event that saw participation from 32 airlines, with 11 purchasing EEUs from the Government of Guyana.

This inaugural large-scale purchase involved Jurisdictional REDD+ ART Trees Guyana credits, the only available CORSIA EEUs. These credits were sold at $21.70 per tonne and are intended to help airlines meet their offsetting obligations under CORSIA Phase 1 for the period from 2024 to 2026. The credits must be canceled by January 31, 2028.

The first procurement event was exclusively open to airlines and took place between October 28 and November 29, 2024. It was supported by the Government of Guyana, Mercuria, and Xpansiv. Xpansiv operates the Aviation Carbon Exchange (ACE) alongside IATA, facilitating these transactions.

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IATA plans to host quarterly procurement events throughout 2025 in collaboration with partners such as Guyana and Mercuria.

Barbaros Kubatoğlu, Chief Financial Officer of Pegasus Airlines, expressed satisfaction with the process: “IATA’s procurement event provided an optimal transparent and auditable process for Pegasus to purchase credits to fulfill our obligations under CORSIA.”

Marie Owens Thomsen, IATA’s Senior Vice President Sustainability and Chief Economist highlighted the significance of this initiative: “The success of the first procurement event demonstrated the airline industry’s commitment to both the offsetting and reduction aspects of CORSIA.”

Bharrat Jagdeo, Vice President of Guyana emphasized the broader impact: “This event was successful because participating airlines showed they are willing to pay a fair price for countries protecting forests.”

James Cooper from Mercuria noted: “The procurement event sent an important signal that EEUs command a premium price.”

John Melby, CEO of Xpansiv remarked on their ongoing collaboration with IATA: “Since 2020 we have worked with IATA to develop a secure marketplace enabling airlines to transact high-quality carbon credits.”

For further information, interested parties can contact Corporate Communications.

Organizations Included in this History
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