International Finance

Qatar Airways becomes first carrier to transact using IATA’s carbon exchange platform

The platform is designed to help carriers invest in projects that do not offset CO2 emissions

Qatar Airways is the first carrier to transact using the International Air Transport Association (IATA)’s carbon exchange platform, media reports said. The platform is designed to help carriers invest in projects that do not offset CO2 emissions.

Launched in 2020 by IATA, the Aviation Carbon Exchange (ACE) will also support local communities, protect wildlife, and contribute to the UN’s Sustainable Development Goals.

ACE is a centralised marketplace where airlines can identify, select, and transact voluntary carbon credits or CORSIA eligible emissions units using a secure electronic interface.

Akbar Al Baker, CEO of Qatar Airways told the media, “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.”

Recently, Qatar Airways and British Airways announced the next milestone in their Joint Business Partnership. British Airways have relaunched its daily services to Doha, with the airline’s first flight taking off from Gatwick last week.

In this regard, Mr. Akbar Al Baker told the media, “Expanding our Joint Business with our strategic airline partner, British Airways, is an important milestone in our ambition of providing customers access to the most extensive route network and unrivalled product.”

Now British Airways’ customers will have access to Qatar Airways’ expansive global network with connections from Doha to over 100 destinations across the world.

Qatar Airways recently started proceedings in a UK court against Airbus in a bid to resolve a dispute over skin flaws on A350 passenger jets.

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