Climate Impact X ( CIX ), a global carbon market solutions provider headquartered in Singapore, has launched its first standardized contract for the Carbon Offsetting and Reduction Scheme for International Aviation ( Corsia ).

The new contract, CIX Corsia Phase 1X Global Market ( CIX CP1X-GM ), represents a significant step towards market transparency and liquidity as the aviation sector prepares for increased demand for sustainability compliance.

With the scale-up of sustainable aviation fuel ( SAF ) still years away, carbon markets are set to play a central role in aviation’s decarbonization pathway throughout this decade.

Corsia is currently the only global mechanism requiring airlines to offset emissions from international flights, making efficient access to high-integrity carbon credits a strategic priority for carriers navigating tightening climate regulations.

CIX’s new instrument is designed to consolidate supply from all carbon credit registries fully approved by the International Civil Aviation Organization ( ICAO ) for the 2024-2026 Corsia Phase 1 compliance period.

By standardizing access to eligible emissions units ( EEUs ), the CIX CP1X-GM contract provides a welcome platform for price discovery and risk management in a market still grappling with early-stage supply shortages.

“As the Corsia market takes shape amid supply constraints, early movers that secure eligible credits today not only gain greater control over their compliance pathways but also position themselves to hedge against market and price volatility,” says CIX chief commercial officer Ellery Sutanto.

High demand, low supply

The contract launch follows the first Corsia-eligible issuances from Gold Standard, including credits from Hestian’s Malawi clean cooking programme, and previous issuances from Guyana under the Architecture for REDD+ Transactions ( ART ).

These two projects jointly bring the total pool of Phase 1-eligible credits to over 17.3 million units. Yet this is still overshadowed by demand. The International Air Transport Association ( IATA ) estimates airlines will need 146–236 million tonnes of offsets for the current phase alone.

CIX reported that during the first day of trading, bid-offer spreads converged rapidly to just 10%, underscoring immediate appetite for price clarity and trading access.

The launch comes as regulators, airlines, and carbon market participants converge on the need for reliable compliance infrastructure ahead of the first Corsia compliance deadline.

The CIX CP1X-GM contract also allows for delivery of units that may qualify as Article 6-authorised Internationally Transferred Mitigation Outcomes ( ITMOs ), opening future pathways for integration with national accounting frameworks under the Paris agreement.

In essence, CP1X-GM transforms what has so far been a fragmented over-the-counter carbon credit environment into an exchange-based mechanism capable of attracting deeper liquidity, tighter spreads, and investor confidence.

Boris Mak, vice president of sustainability at Singapore Airlines, adds: “A transparent Corsia pricing benchmark will aid airlines in shaping their carbon offset strategy, and complement other decarbonization initiatives in the aviation sector.”