The International Civil Aviation Organization (ICAO) has approved two World Bank-managed carbon crediting programs—the Forest Carbon Partnership Facility (FCPF) and the BioCarbon Fund Initiative for Sustainable Forest Landscapes (ISFL)—to supply eligible carbon credits under the second phase of the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).

The decision extends the eligibility of both programs to the 2027–2029 compliance period, following their approval for CORSIA’s first phase earlier in 2026. It marks another important step in expanding opportunities for countries to access international carbon markets and mobilize additional finance from verified emission reductions.

CORSIA is a global market-based mechanism designed to address carbon dioxide emissions from international aviation. Under the scheme, airlines subject to offsetting requirements must purchase and cancel eligible carbon credits to compensate for emissions above an established baseline.

The latest approval creates a pathway for qualifying credits generated under the FCPF and ISFL standards to access the CORSIA market during 2027–2029, subject to applicable eligibility requirements, including those intended to ensure environmental and social integrity. For countries that meet those requirements, CORSIA offers another potential source of demand for credits and an opportunity to mobilize private capital for climate-smart development.

The FCPF and ISFL were among four additional crediting programs approved by ICAO for the 2027–2029 period, bringing the total number of approved programs to eight.

For more information, see ICAO's CORSIA Eligible Emissions Units and the earlier FCPF and ISFL Phase 1 announcement.