KUALA LUMPUR, Dec 11 -- The International Chamber of Commerce (ICC), Perlin and AirCarbon have partnered to customise AirCarbon’s blockchain based carbon trading platform to facilitate carbon credit schemes to reduce worldwide aviation emissions.
The partnership is in recognition of the significant and growing environmental impact of commercial air traffic, according to a statement.
Launched on the sidelines of this year’s United Nations Conference on Climate Change (COP 25) in Madrid, the partnership seeks to promote a market-based approach for reducing carbon emissions in the aviation industry globally.
Leveraging ICC’s extensive global network and Perlin’s domain expertise in distributed technology for enterprise, the partnership will seek to facilitate global adoption of the AirCarbon Exchange, the world's first blockchain based distribution and trading network for CORSIA compliant carbon credits.
CORSIA, International Civil Aviation Organization’s Carbon Offset and Reduction Scheme for International Aviation was signed in Montreal in 2016 by 191 countries.
As CORSIA continues to expand and shape the aviation industry, the partnership will seek to advance blockchain-backed carbon credit schemes to mitigate future liabilities for people and planet.
The partnership has come at a significant moment in history as industry-led initiatives seek to address the growing climate crisis before emissions reach a critical tipping point for irreversible and catastrophic global temperature rises.
The partners will seek to directly address the threat posed by significant and growing emissions from aviation by facilitating the efficient and economic sourcing and trade of credible carbon offsets for the aviation industry.
-- BERNAMA
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