Gold Standard has approved two additional insurance products for project developers seeking eligibility for Gold Standard Verified Emission Reductions (GS-VERs) under the first phase of CORSIA — the Carbon Offsetting and Reduction Scheme for International Aviation.
The newly approved policies are CFC Underwriting Limited’s CORSIA Guarantee Insurance and Oka, The Carbon Insurance Company’s Corresponding Adjustment Protect™. Their approval follows an independent assessment by Howden, conducted under a process launched by Gold Standard in July 2025, and is now reflected in Gold Standard’s Guidelines for the Eligibility of Gold Standard VERs for Use under CORSIA’s First Phase.
“Approving these insurance products gives project developers more routes to meet CORSIA requirements,” said Margaret Kim, CEO of Gold Standard. “It will enable more projects to supply credits for CORSIA’s first phase, in a way that is reliable and based on solid foundations.”
Gold Standard, approved by the International Civil Aviation Organization (ICAO) in December 2024 to supply CORSIA-eligible credits, provides two pathways for project developers to comply with ICAO’s rules to prevent double counting. Developers can either show evidence that a host country has applied a corresponding adjustment under Article 6 of the Paris Agreement, or provide a legally binding Deed of Undertaking to replace any double-counted credits — supported by an approved insurance policy.
With the inclusion of these two new products, project developers now have expanded insurance options to meet eligibility requirements. The move follows the approval of the Multilateral Investment Guarantee Agency’s Breach of Contract cover in December 2024.
“These policies enable Gold Standard to issue CORSIA-eligible credits, unlocking access to a vital carbon market,” said Charlie Pool, Head of Carbon Advisory, Climate Risk & Resilience at Howden. “It’s exciting to see the insurance industry not only stepping up to underwrite these highly technical risks but also helping to catalyse innovation and accelerate the development of transition solutions.”
Howden will continue to review additional insurance products submitted for approval under its assessment framework.
CORSIA, launched by ICAO in 2016, aims to mitigate CO₂ emissions from international aviation. Participating airlines are required to purchase eligible carbon credits to offset any emissions exceeding 2019 levels. The scheme’s first phase runs from 2024 to 2026.
