Environmental Finance


By April 26, 2022May 6th, 2022No Comments


Stands for Carbon Offsetting and Reduction Scheme for International Aviation.

Aviation emissions from international flights have not been included in the international climate regime administered by UNFCCC.

Instead, these emissions have been dealt with by the International Civil Aviation Organization (ICAO). Its members adopted a global market-based measure to tackle aviation emissions, whereby airlines and other aircraft operators will offset any growth in CO2 emissions above 2020 levels.