Business

Lack of carbon market regulations force Brazilian airlines to play catch-up

Airlines around the world will have to join a carbon offsetting scheme, but Brazil's companies can be hurt due to regulatory gaps

carbon market regulations airlines
Photo: Thiago B. Trevisan/Shutterstock

In 2021, the International Civil Aviation Organization launched a program to rein in the air travel industry’s carbon emissions. Named CORSIA (the Carbon Offsetting and Reduction Scheme for International Aviation), it aims to stabilize net carbon emissions from civil aviation around the world at 2019 levels, before reducing net emissions to half of what they were in 2005 by 2050.

By 2027, all airlines must adhere to the program. A total of 107 nations have joined CORSIA already — but not Brazil, as the country has yet to even regulate carbon markets. 

Just before the 2021 UN Climate Change Conference...

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