CIX CORSIA X is a global standardised spot contract for Eligible Emissions Units (EEU) under the International Civil Aviation Organisation’s (ICAO) Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
Demand for CORSIA-eligible credits is projected to surge, with the International Air Transport Association (IATA) forecasting up to 236 million tonnes by 2026 as airline operators approach the first compliance deadline.
The ‘CIX CORSIA Phase 1 X – Global Market’ (CIX CP1X-GM) is expected to be the first contract in the market to accept eligible carbon credits issued by all fully approved ICAO registries for the 2024-2026 compliance period (first phase). This will unlock new opportunities for airlines and other market participants to access International Transferrable Mitigation Outcomes (ITMO) units at scale.
Only credits explicitly labelled as CORSIA-eligible by ICAO-approved registries will qualify for delivery into the contract.
| Benchmark series name | CIX CORSIA Phase 1 X – Global Market |
| Contracts code | CP1X-GM |
| CIX assessment codes | CP00002 |
| Market scope | All eligible credits, per eligibility criteria defined by the ICAO Council for CORSIA 2024-2026 compliance period (first phase), as captured within the ICAO document “CORSIA Eligible Emissions Units” |
| Underlying tradeable instrument | CP1X-GM standard contract |
| Benchmark vintage | Anchored vintage contract, v21-26 |
| Publishing calendar | Singapore |
| Pricing session | Daily, 17:00 – 17:30 (GMT+08:00) |
| Benchmark methodology | Refer here for details |
| Benchmark delivery | Published in CIX Carbon Daily the day after each pricing session |
Why CORSIA
Aviation contributes approximately 2% of global energy-related emissions, placing airlines under increasing regulatory, consumer and investor pressure to accelerate decarbonisation.
Given that aviation remains a hard-to-abate sector, with limited commercially and technologically viable decarbonisation pathways in the near term, the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) serves as a crucial complementary tool. CORSIA is a global market-based mechanism designed to address the environmental impacts of international air travel. It encourages airlines to measure, reduce and offset their greenhouse gas (GHG) emissions, providing greater transparency and accountability in the sector’s sustainability progress.
Under CORSIA, participating airlines must offset any emissions growth beyond their 2019 baseline by purchasing eligible carbon credits. This approach offers airlines a practical route to manage unavoidable emissions, comply with international climate targets and avoid regulatory penalties. For corporate buyers and intermediaries, CORSIA can set a benchmark for high-integrity carbon credits, influencing procurement strategies across sectors.
Early engagement with CORSIA doesn’t just ensure compliance, it positions organisations as proactive leaders in global sustainability.
Resources
CORSIA Buyer’s Guide
Navigating CORSIA compliance requires clarity on eligibility rules, timelines and sourcing strategies. Our CORSIA Buyer’s Guide breaks down what airlines and market participants need to know as compliance deadlines approach.
Featured articles & news
Climate Impact X launches first CORSIA Phase 1 standardised contract
‘CIX CORSIA Phase 1 X – Global Market’ enables trading of eligible credits from all fully approved ICAO registries, unlocking a new level of access and price transparency for CORSIA participants worldwide.
Clearing the Skies: Decoding risks and uncertainty in the CORSIA market
As international aviation faces mounting pressure to curb emissions, compliance with the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) has become both an operational necessity and a reputational imperative. At a recent Climate Impact X (CIX) webinar, industry experts highlighted a critical window of opportunity—and urgency—for airlines, aviation stakeholders and others to secure…
CORSIA explained
The Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) is a global market-based mechanism aimed at addressing the growing…
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