4AIR Is First Bizav Purchaser on IATA Carbon Exchange

 - March 3, 2021, 11:09 AM

4AIR announced today that it is the first private aviation stakeholder to make a trade on the International Air Transport Association’s (IATA) Aviation Carbon Exchange (ACE), a platform where aviation stakeholders can trade carbon offsets to reduce their climate impact.

The private aviation sustainability solutions firm purchased credits to offset 15,000 tonnes of carbon dioxide from ClimeCo via ACE on behalf of client PrivateFly, allowing the charter and jet card provider to meet its offsetting commitment for 2020 operations. PrivateFly has committed to be emissions neutral for 2021, meaning it will offset all of its flights this year at 300 percent of their carbon footprint to account for both carbon dioxide and non-carbon-dioxide emissions.

According to 4AIR, the purchased credits support a solar-energy project in India that generates more than 1.5 million MWh annually. Besides reducing carbon emissions, this project spurs economic development and provides job opportunities, it said.

“The Aviation Carbon Exchange is a phenomenal step for increased transparency and simplicity in the process of acquiring carbon offsets,” said 4AIR president Kennedy Ricci. “4AIR is uniquely positioned to aggregate private flight hours from users and operators all over the world to buy offsets on [ACE] at a larger scale. We can help the private aviation community support verified projects worldwide, making it easy for them to meet sustainability goals.”