Qatar Airways and the International Air Transport Association (IATA) announced that Qatar Airways made a transaction on the IATA Aviation Carbon Exchange (ACE) using IATA Clearing House (ICH).
The IATA Aviation Carbon Exchange (ACE) is a centralized marketplace where airlines and other aviation stakeholders can trade CO2 emission reduction units for compliance or voluntary offsetting purposes. With a secure and easy to use trading environment, ACE offers the highest transparency in terms of price and availability of emission reduction units while simplifying the process for air carriers to access carbon markets to achieve their decarbonization targets.
Qatar Airways and IATA reached another landmark milestone that encourages carbon markets to respond to the needs of the aviation sector. This initiative enables opportunities to simplify processes to ensure the successful implementation of Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) adopted by the International Civil Aviation Organization (ICAO), while also supporting the successful implementation of voluntary offsetting programmes.
With Qatar Airways making the ACE transaction using IATA Clearing House (ICH), it benefits from the IATA Settlement Systems and Clearing House for seamless and risk-free settlement of funds. It reaffirms our industry’s ambition to reach our climate targets while we drive innovation and bring other social, environmental or economic benefits.
Source: Qatar Airways