The International Business Aviation Council (IBAC) has renewed its alliance with Carbon Trade eXchange (CTX) to provide a platform for business aviation companies to voluntarily purchase carbon credits to offset their CO2 emissions. According to IBAC, this platform provides a quicker, easier path for smaller purchases of carbon credits, with CTX providing a pre-selected registry of high-quality offsets starting at 100 tonnes of emitted CO2.
Business aviation organizations can choose from a wide range of offset projects certified by the world’s leading carbon credit standards, including The Gold Standard, UNFCCC Clean Development Mechanism, and Verra Verified Carbon Standard. Under the Business Aviation Commitment on Climate Change, high-quality offsets are part of several measures that can be employed to help the industry achieve carbon-neutral growth, as well as reach the net-zero carbon emissions goal by 2050. Carbon credits can be used in the near term as a supplement to other decarbonization actions, such as operational improvements, use of sustainable aviation fuel, and replacing fleets with more efficient aircraft.
“While the industry strives to meet its decarbonization goals directly, offsetting is a supplemental tool that allows operators to take mitigation action by financing carbon reductions achieved in projects outside the sector,” said IBAC director general Kurt Edwards. “With this new retail platform, we are pleased to see our partnership with CTX further evolve.”