Demand for carbon offsets - credits for emissions-reducing activity that can be generated through projects such as tree planting - is expected to increase as companies with net-zero goals buy them to cancel out emissions elsewhere.
The Integrity Council for the Voluntary Carbon Market , an independent governance body, has published its criteria for projects to achieve its new Core Carbon Principle standards. CCP approval will require many of the same features as CORSIA, such as a project having quantified monitoring, reporting and verification standards, or being unable to go ahead without the revenue from the sale of carbon credits.
Technology to capture and store carbon emissions at projects that also involve oil recovery will be excluded from the CCPs, as will any projects involving coal-fired power generation.