COMMENT | Carbon market a doubled-edged sword

COMMENT | Lately, there has been a lot of hype on the carbon market, with most people being sceptical about carbon credits and their roles in offsetting emissions. I would like to share my unbiased view here, without fear or favour.

I once sat in for someone at a National Carbon Offsetting and Reduction Scheme for International Aviation (Corsia) task force meeting chaired by AirAsia.

The meeting was held to discuss strategies and initiatives to be taken by airlines in achieving compliance as per the International Civil Aviation Organization (ICAO) council rules.

My then colleague and I shared with the meeting the carbon market mechanisms under Article 6 of the Paris Agreement and greenhouse gas accounting for aviation.

Under Corsia, airlines with annual emissions of more than 10,000 metric tonnes of carbon dioxide (CO2) will have to monitor and report emissions for international flights.

Airlines are also required to purchase carbon credits from a regulated carbon market.