Qatar Airways performs the first-ever trade on the IATA Aviation Carbon Exchange ACE using the IATA Clearing House
Pioneering initiative opens a new chapter in the promotion of innovation towards environmental sustainability
DOHA, Qatar, 2021-Dec-21 — /Travel PR News/ — Qatar Airways and the International Air Transport Association (IATA) announced that Qatar Airways became the first carrier to make a transaction on the IATA Aviation Carbon Exchange (ACE) using IATA Clearing House (ICH).
The IATA Aviation Carbon Exchange (ACE) is a centralised marketplace where airlines and other aviation stakeholders can trade CO2 emission reduction units for compliance or voluntary offsetting purposes. With a secure and easy to use trading environment, ACE offers the highest transparency in terms of price and availability of emission reduction units while simplifying the process for air carriers to access carbon markets to achieve their decarbonisation targets.
Today, IATA and Qatar Airways reach another landmark milestone that encourages carbon markets to respond to the needs of the aviation sector. This initiative enables opportunities to simplify processes to ensure the successful implementation of Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) adopted by the International Civil Aviation Organization (ICAO), while also supporting the successful implementation of voluntary offsetting programmes.
With Qatar Airways making the ACE transaction using IATA Clearing House (ICH), it benefits from the IATA Settlement Systems and Clearing House for seamless and risk-free settlement of funds. It reaffirms our industry’s ambition to reach our climate targets while we drive innovation and bring other social, environmental or economic benefits.
Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker, said: “The State of Qatar is one of the States that voluntarily participates in the pilot phase of ICAO CORSIA. As a leader in aviation, Qatar Airways is driven by an ambitious environmental sustainability vision and we are determined to support Qatar in this pursuit by remaining compliant with the global scheme. We welcome the use of the IATA Aviation Carbon Exchange (ACE), as it enables airlines to invest in CORSIA eligible emission reduction units, further supporting Qatar Airways’ commitment to invest in a low-carbon future, while reducing our financial risk.”
Willie Walsh, IATA’s Director General, said, “The Carbon Offsetting and Reduction Scheme for International Aviation – CORSIA – is a key tool for helping the industry achieve carbon-neutral growth as part of our long-term target to reach net-zero carbon emissions by 2050. The Aviation Carbon Exchange enables airlines to purchase their offsetting credits with maximum transparency and minimum bureaucracy. By performing the first-ever trade on the ACE using the IATA Clearing House, Qatar Airways has demonstrated its support for the ICH as a means of pioneering efficiency in transactions that will make the purchase of quality carbon offsets easier for all airlines.”
Recently, IATA approved a resolution for the global air transport industry to achieve net-zero carbon emissions by 2050. In line with the longstanding approach to managing aviation’s climate change impact, the resolution also called for governments to support CORSIA, and coordinate policy measures to avoid a patchwork of regional, national, or local measures.
Qatar Airways and IATA, together with the industry stakeholders are working together in order to collectively achieve the industry’s decarbonisation goals.
The Aviation Carbon Exchange (ACE), is a platform for trading carbon credits, powered by CBL Markets, an Xpansiv CBL Holding Group (XCHG).
Notes to Editors:
About Qatar Airways:
A multiple award-winning airline, Qatar Airways was recently announced as the ‘Airline of the Year’ at the 2021 World Airline Awards, managed by the international air transport rating organisation, Skytrax. It was also named ‘World’s Best Business Class’, ‘World’s Best Business Class Airline Lounge’, ‘World’s Best Business Class Airline Seat’, ‘World’s Best Business Class Onboard Catering’ and ‘Best Airline in the Middle East’. The airline continues to stand alone at the top of the industry having won the main prize for an unprecedented sixth time (2011, 2012, 2015, 2017, 2019 and 2021).
Hamad International Airport (HIA), the airline’s home and hub, was recently announced as the ‘World’s Best Airport’ in the Skytrax 2021 World Airport Awards. HIA has been steadily rising in the ‘World’s Best Airports’ rankings since the start of its operations in 2014.
Qsuite, a patented Qatar Airways product, features the industry’s first-ever double bed in Business Class, as well as privacy panels that stow away, allowing passengers in adjoining seats to create their own private room, a first of its kind in the industry.
Qatar Airways was the first Gulf carrier to join global airline alliance oneworld, enabling its passengers to benefit from more than 1,000 airports in more than 160 countries, with 14,250 daily departures.
Oryx One, Qatar Airways’ in-flight entertainment system offers passengers up to 4,000 entertainment options from the latest blockbuster movies, TV box sets, music, games and much more. Passengers flying on Qatar Airways flights served by its B787, B777, A350, A319 and select A320 and A330 aircraft can also stay in touch with their friends and family around the world by using the award-winning airline’s on-board Wi-Fi and GSM service.
Qatar Airways proudly supports a range of exciting international and local initiatives dedicated to enriching the global community that it serves. Qatar Airways, the official FIFA partner, is the official sponsor of many top-level sporting events, including the FIFA World Cup Qatar 2022TM, reflecting the values of sports as a means of bringing people together, something at the core of the airline’s own brand message – Going Places Together.
Qatar Airways Cargo, one of the world’s leading international air cargo carriers, serves more than 60 freighter destinations worldwide via its world-class Doha hub and also delivers freight in the belly-hold deck of passenger aircraft to an extensive network. The Qatar Airways Cargo fleet includes two Boeing 747-8 freighters, 26 Boeing 777 freighters and six B777-300ER mini freighters.
Qatar Executive is the private jet charter division of Qatar Airways Group. Luxury jet services are available for worldwide charter on board the operator’s wholly-owned business jet fleet. Qatar Executive is the launch customer for Gulfstream’s G700, the world’s first commercial service operator of the Gulfstream G500 and largest commercial operator of the G650ER worldwide. Qatar Executive’s service portfolio also includes aircraft management, maintenance and Fixed Based Operator services.
For further information, please contact:
Qatar Airways Group, Corporate Communications Department
Tel: +974 4022 2200
Email: qrmedia@qatarairways.com.qa
Source: Qatar Airways
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