EU backs CORSIA to 2035 as Base Carbon expands eligible credit portfolio
Base Carbon has welcomed proposed European Union reforms that would embed the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) into EU law until 2035, while confirming that its entire inventory of carbon credits from its Rwanda cookstoves project is now eligible under the aviation emissions scheme.
The proposed changes would incorporate CORSIA into the EU Emissions Trading System (EU ETS) through to 2035, providing greater long-term certainty for the international aviation carbon market. Under the proposal, CORSIA would remain the sole compliance mechanism for flights departing the European Economic Area (EEA) during 2027 and 2028, before the EU ETS is expanded on a trial basis to selected short and medium-haul routes from 2029.
The Commission has also proposed that airlines be allowed to deduct spending on CORSIA-eligible carbon credits from their EU ETS obligations. A further review of the framework is scheduled for 2032 to determine how the two systems should operate beyond that point.
According to Base Carbon, projected EU demand during the first phase of CORSIA could account for around 70% of the currently tagged global supply of eligible carbon credits, underlining the potential importance of the European market for project developers and carbon credit holders.
The announcement comes as prices for CORSIA-eligible credits have strengthened. Base Carbon said the ICE December 2026 CP1 futures contract has risen by approximately 39% since 30 June 2026, reflecting growing confidence in the aviation compliance market following the Commission’s proposals.
Alongside the regulatory update, Base Carbon confirmed that carbon registry Verra has completed the CORSIA eligibility tagging of the remaining 342,356 carbon credits from its Rwanda cookstoves project. The latest certification increases the company’s CORSIA-eligible inventory to approximately 1.1 million carbon credits.
The Rwanda project is being developed in partnership with DelAgua and is subject to a revenue-sharing agreement between the two companies. Base Carbon said it is now working with DelAgua to secure the insurance required for a further 640,000 previously issued carbon credits held by its partner to receive CORSIA eligibility.
Chief Executive Michael Costa said the European Commission’s proposal provides important validation for CORSIA and offers greater clarity over long-term demand for high-integrity aviation carbon credits. He added that the company is well positioned to benefit from the proposed regulatory framework, with all of its Rwanda cookstoves inventory now eligible for the scheme and additional credit issuances expected in the future.
Costa also said securing insurance for the remaining DelAgua-held credits represents the next major step towards extending CORSIA eligibility across the project’s entire issued inventory.
Looking ahead, Base Carbon expects the Rwanda cookstoves project to generate approximately 2.6 million additional carbon credits over the remainder of the project’s crediting period, with new issuances anticipated every six months. The company expects all future credits from the project to qualify for CORSIA eligibility, further strengthening its position in the growing aviation carbon compliance market.
The proposed EU reforms and expanding supply of CORSIA-eligible credits come as airlines face increasing pressure to reduce emissions from international flights, making high-quality carbon offsets an increasingly important component of global aviation’s decarbonisation strategy.
