Platts launches Pre-CEC Current Year price assessment, CEC/Pre-CEC CY spread Sept. 1

Platts, part of S&P Global Commodity Insights, has launched a new daily price assessment for carbon credits that are pending full CORSIA Phase 1 eligibility, effective Sept. 1, 2025.

CORSIA is the Carbon Offsetting and Reduction Scheme for International Aviation, governed by the International Civil Aviation Organization (ICAO).

Platts recognizes the growing market appetite to understand the value of carbon credits that are in the process of becoming CORSIA Phase 1 eligible and taking steps to meet the requirements set out by ICAO.

The market for Phase 1 CORSIA-eligible carbon credits -- captured by the Platts CEC (CORSIA-eligible credit) price assessment -- has been categorized by tight supply, and, in particular, the slow attainment of the Corresponding Adjustment required for credits to be eligible under the scheme.

A corresponding adjustment, or CA, guarantees that the host country will not claim the credit against its own climate goals, known as Nationally Determined Contributions. This prevents the double-counting of credits and is essential for international carbon credit trading as outlined in Article 6 of the Paris Agreement.

At the same time, Platts has observed a parallel market for credits from projects pursuing CORSIA eligibility, as well as a growing appetite to understand the value of these credits.

As such, the new Platts Pre-CEC Current Year assessment considers bids, offers, trades or other relevant market information in which a seller commits to deliver a credit pursuing CORSIA eligibility in line with ICAO's requirements.

Platts defines these credits as those issued by a project that meets at least one of ICAO's phase 1 eligibility criteria, as follows, but not limited to:

• The credit using an approved standard and methodology under Phase 1 of CORSIA
• Having a corresponding adjustment
• Or a letter of authorization alongside insurance where necessary

The market participant will also demonstrate being in the process of meeting the remaining criteria.

Further specifications of the Platts Pre-CEC CY assessment match the existing Platts CEC CY assessment and are listed below:

• Volume range: 20,000-100,000 mtCO2e
• Vintage range: 2021-2026
• Delivery: Current-year delivery

Platts CEC/Pre-CEC CY Spread

Platts has also launched a CEC to Pre-CEC CY calculated spread. This calculated value reflects the spread between the Platts CEC CY and Platts Pre-CEC CY price assessments and is published in $/mtCO2e, with a conversion to euro.

A summary of the new assessments is as follows:

The new assessments reflect a 1630 London timestamp and follow the Platts London holiday calendar. They can be found in Carbon Markets Daily and on fixed pages ETA2004, CMA2004, ETA2009, CMA2009, ETA2011 and CMA2011.

Full details of Platts carbon credit price assessments can be found in the Carbon Markets Specifications Guide, available here.

Please send any comments, feedback or questions to platts _carbon@spglobal.com and pricegroup@spglobal.com.

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