IATA, 123Carbon Partner to Address Double Issuance in Carbon Credits
Ensure that different systems will work smoothly, which is important for creating trust in SAF markets.
Aim to avoid emissions reporting errors and double issuance.
International Air Transport Association (IATA) has joined forces with 123Carbon, a fully independent one-stop shop for carbon insetting, to help Sustainable Aviation Fuel (SAF) registries work better together.
These registries are efficient systems that track SAF's purchase, production, and use, as well as uphold transparency and prevent fraud. The tie-up aims to make the management of SAF certificates easier and more efficient and prevent concerns like double issuance (duplicate certificates) and errors in emissions reporting.
READ MORE: UK Sustainable Aviation Fuel Mandate Takes Effect Today
Their partnership will focus on three main areas: unique identifier and data standardisation for SAF certificates, information exchange to prevent double issuance or duplicate records, and dispute resolution.
Marie Owens Thomsen, IATA’s Senior Vice President Sustainability and Chief Economist, said: "User trust is essential. The transparency that comes with interoperability will ensure that our registries can function cohesively to maximize SAF’s potential to support aviation’s decarbonization. The broader the alignment among registry providers, the better. We welcome all entities active in this field to work with IATA and 123Carbon towards global interoperability between all registries."
Jeroen van Heiningen, Managing Director, 123Carbon, added: "123Carbon is committed to establishing integrity and trust in the market for Environmental Attribute Certificates (EACs) within multi-modal transportation (e.g. air, sea, road & rail). With IATA, we have found a strong partner in the aviation sector that shares our beliefs.
"This collaboration allows SAF providers, airlines, freight forwarders, and corporate entities to utilize our platforms without the concern of double issuance, whilst managing their SAF certificates digitally on our platform."
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Source: 123Carbon
