IATA’s Aviation Carbon Exchange sees first private aviation trade as 4AIR buys 15,000 carbon offsets

Boston-based 4AIR has become the first private aviation stakeholder to make a trade on IATA’s Aviation Carbon Exchange, the platform for airlines and aircraft operators to trade carbon offsets to reduce their CO2 emissions or meet obligations under ICAO’s CORSIA international offsetting scheme. The transaction was made with environmental commodity company ClimeCo to purchase offsets on behalf of 4AIR client PrivateFly to help the charter and jet card provider meet an offsetting commitment in relation to its 2020 operations. The 15,000 offsets purchased will support a renewable energy project in India that generates enough solar energy to displace more than 1.5 MWh of electricity annually. 4AIR operates a rating programme that allows anyone in private aviation – from companies and individuals who own aircraft, fractional shares or jet cards to those who charter flights – to reduce their carbon footprint. As a Silver Member of the programme, PrivateFly will offset emissions from its operations and all flights in 2021 at 300% of its carbon footprint to account for both CO2 emissions and non-CO2 pollutants.