Platts clarifies inclusion of Phase 1 CORSIA credit in European ZCAP aluminum price assessments from Jan 2

Platts, part of S&P Global Commodity Insights, wishes to clarify that its calculated Zero-Carbon Aluminum Price (ZCAP) premium assessments for European P1020 will reflect carbon credits eligible under Phase 1 of the CORSIA scheme for the Platts CEC component of the calculation from Jan. 2.

Platts CEC assessment reflects carbon credits eligible for the International Civil Aviation Organization's CORSIA program.

The assessment will continue to reflect CORSIA-eligible credits once the Pilot phase (2021-2023) of the program ends, and evolves to Phase 1 (2024-2026) from January 2024.

More information is available in the subscriber note here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/112823-platts-cec-price-assessment-will-reflect-phase-1-corsia-credits-from-jan-2

The following aluminum price calculations are affected by the change to Platts CEC specification:

The Zero-Carbon Aluminum Price (ZCAP) assessments leverage Platts CEC to calculate the cost of offsetting the carbon emissions of the Platts Low-Carbon Aluminum Premium (LCAP) assessment to zero.

CORSIA, the Carbon Offsetting and Reduction Scheme for International Aviation, is referenced by a wide range of non-aviation industries as an acceptable approach for voluntarily curbing carbon's impact on climate change.

Platts ZCAP aluminum premium assessments are published in Platts Metals Daily, on pages 421 of Platts Metals Alert and Platts Non Ferrous Metals Alert, in the Platts Market Center, Platts Connect and in the Platts price database under the codes listed above.

Platts invites feedback from market participants on incorporating the cost of carbon within Platts aluminum price assessments, to be sent to Platts_Aluminum@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.