Using Aviation Emission Reduction Markets to Reduce Deforestation in Peru

The International Civil Aviation Organization and its 191 member States agreed in October 2016 to implement a Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA)to limit future increases in greenhouse gas emissions from the sector. This market-based scheme creates a potential global demand of over two billion tonnes of investment-ready emissions reductions from 2021 to 2035. Peru could meet some of this demand with its current and projected supply from reducing emissions from deforestation and forest degradation and through forest restoration. By choosing to participate in the early Phases of this scheme, starting in 2021, the Peruvian Government could generate more than $500million in additional investment at an estimated cost of $24 million to its aviation industry, which represents a small fraction –less than 0.4percent –of global emissions from international aviation.

(Spanish language version)