Japanese airline retires 200,000 CORSIA Phase 1 credits from DelAgua project

Zipair, a subsidiary of Japan Airlines, retired 200,000 credits under Phase 1 of the Carbon Offsetting and Reduction Scheme for International Aviation from DelAgua's Rwandan cookstoves project on Oct. 29, according to Verra registry data.

Five tranches totaling 200,000 Phase 1 credits with a 2023 vintage were retired from DelAgua's Verra-certified Rwandan improved cookstoves project, VCS 3699, visible on the Verra registry.

This brings DelAgua's total Phase 1 retirements under the Carbon Offsetting and Reduction Scheme for International Aviation, or CORSIA, to 349,154 mt, with VCS 3699 encompassing 210,000 mt.

Earlier in the month, DelAgua saw 10,000 mt from VCS 3699 and 40,000 mt from VCS 4150 retired by Malaysia Aviation Group, as part of a broader 80,000 mt retirement.

Elsewhere, 20,000 Phase 1 credits were retired from the Uzbekistan leak detection and repair project developed by GasGreen Asia and Climate Compass, VCS 4531, on Oct. 30, visible on the Verra registry. No retiree was listed.

CORSIA is one of the first global market-based carbon credit schemes aimed at reducing emissions from international aviation. The first phase of voluntary participation involves 130 countries, covering about 80% of annual aviation-sector emissions.

These retirements come as airline demand remains nascent and has yet to fully take flight, with airlines working toward a January 2028 cancellation deadline for Phase 1.

As such, prices have remained relatively rangebound, with market participants expecting some Request for Proposals to close in November and December, driving prices up to $13-$15/metric tons of carbon dioxide equivalent by year-end.

Platts CEC, which reflects the value of fully eligible Phase 1 credits, was assessed at $12.75/mtCO₂e on Oct. 29, unchanged day over day. Platts is part of S&P Global Energy.