DOHA, QATAR – 20 April 2026 – In its capacity as the party specializing in due diligence and quality assurance for carbon credits under Article 6, the Climate Action Center of Excellence (CACE) – established by the Gulf Organisation for Research and Development (GORD) – has announced the successful completion of its first auction of CORSIA-eligible credits. The auction, conducted on behalf of project developer SIPCO and powered by Emsurge, offered CORSIA’s first compliance period (CP1)-labelled credits from SIPCO’s Verra-certified Cambodian Water Purifiers Project and closed above the floor price of $14.00/tCO2e.
Prior to the auction, CACE conducted extensive due diligence on both the underlying project and the quality of the Letter of Authorization underpinning the credits, providing buyers with the independent assurance needed to participate with confidence. The multi-buyer outcome reflects the appetite that exists for rigorously validated CORSIA credits when offered through a structured, transparent process.
Reflecting on the milestone, Dr. Yousef Alhorr, Founding Chairman of CACE and GORD, said, “This transaction represents a meaningful step forward in the operationalization of Article 6 of the Paris Agreement. By demonstrating that project-specific CORSIA credits can attract competitive demand in a transparent, auction-based format, CACE and its partners are proving that the infrastructure for a global liquid market is ready.”
Dr. Alexandra Soezer, Director of CACE, noted the successful conclusion of the process, saying, “Following months of hard work, we are pleased to get a positive outcome for SIPCO who have supported this initiative to improve access to credits and price transparency.”
As CORSIA enters CP1, the ability to efficiently match supply with demand will be critical. In this context, CACE plays a key role in the CORSIA ecosystem: ensuring that credits offered to compliance buyers meet the highest standards of environmental integrity and jurisdictional authorization. The success of this first auction demonstrates both the demand for quality-assured CORSIA credits and the value of a structured, auction-based approach to price discovery.
SIPCO’s project, alongside Cambodia’s proactive engagement, is helping to position the country at the forefront of Article 6 implementation. Together with CACE and Emsurge, the initiative reflects a shared commitment to improving access to high-quality credits and enhancing price transparency across CORSIA markets.
With SIPCO committed to regular auctions — the next of which is scheduled for early next month — CACE will continue to provide independent oversight and due diligence, enabling a credible and liquid secondary market for CP1 credits to develop.
- Climate Action Center of Excellence (CACE)
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