Climate Impact X (CIX) has today launched new daily price benchmarks reflecting the spot value of Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) Eligible Emissions Unit over time.

The new assessments include CIX CORSIA X (CIX assessment code: CP00001) and CIX CORSIA Phase 1 X – Global Market (CP00002). Both assessments will reflect the most competitive daily spot value for immediate delivery of CORSIA Eligible Emissions Units as defined by the International Civil Aviation Authority (ICAO).

These assessments will be further informed by standard contracts to be launched on CIX Exchange in the coming months. In the meantime, CIX Exchange members are already able to post live and firm bids and offers for individual projects that qualify as CORSIA Eligible Emissions Units for the 2024-2026 Compliance Period (First Phase), such as projects under the Architecture for REDD+ Transactions’ (ART) – The REDD+ Environmental Excellence Standard (TREES) – programme.

CIX CORSIA Phase 1 X – Global Markets (CP00001) will track the daily spot value of CORSIA Eligible Emissions Units specifically for the 2024-2026 Compliance Period (First Phase).

Both assessments will have the same value until the time when the next phase of the CORSIA scheme becomes more actively traded and relevant, at which point CIX CORSIA X (CP00001) will roll to reflect the new yet-to-be-launched assessment reflecting CORSIA Eligible Emissions Units in the following compliance period.

Assessments will be made holistically using all information available to the CIX Pricing team, including transactions, bids and offers for individual projects on CIX Exchange, other CIX trading venues, and in the over-the-counter (OTC) physical spot market. Priority will be given to transactions transparently executed on CIX Exchange and to firm, executable bids and offers on CIX Exchange.

The CIX Benchmark Methodology Guidebook has been updated to reflect the addition of these CORSIA price assessments and can be found at the following link here.

These new assessments will be published in CIX Intelligence products, including the CIX Carbon Daily report and via other data delivery methods. To report information for use in CIX assessments, please contact pricing@climateimpact.com.

Please ensure that the appropriate members of staff within your organisation and customers are advised of the content of this market notice.

For any queries on this notice, please reach out to CIX’s support team at +65 3135 1620 or email support@climateimpactx.com.