IBAC has renewed its alliance with Carbon Trade eXchange (CTX) to provide a new transparent and efficient platform for business aviation companies to voluntarily purchase carbon credits to offset their CO2 emissions as part of an overall sustainability plan.
While signing up for full CTX membership remains the preferred option for those anticipating a larger number of trades, the new B-to-B ‘retail’ platform provides a much quicker, easier path for smaller purchases, with CTX providing a pre-selected registry of high-quality offsets, starting at 100 tonnes.
The IBAC Carbon Credit Exchange was created by the partnership with CTX, which introduced the world’s first electronic exchange for high-quality voluntary carbon credits in real-time more than 16 years ago. Business aviation organizations can choose from a wide range of offset projects certified by the world’s leading carbon credit standards.
As identified in the Business Aviation Commitment on Climate Change (BACCC), out-of-sector measures, including high-quality offsets, are part of the ICAO basket of measures to help the industry achieve carbon-neutral growth and contribute ultimately to the industry target of net-zero carbon emissions by 2050. Carbon credits can be used in the near term as a supplement to other decarbonization actions, such as operational improvements, use of sustainable aviation fuel (SAF), and newer, more efficient aircraft, contributing to emissions reductions now while the benefits of other measures accumulate over the longer term.
Once carbon credits are purchased on the ACE platform, they are immediately canceled by CTX. Unique offset certificates of cancelation that cannot be resold or claimed again are then provided to the buyer. There are no intermediaries between CTX and Project Developers, resulting in an efficient and transparent offset purchasing experience, and the ACE platform only sells credits listed on CTX – which number in the many millions.
