Howden partners with Gold Standard to assess insurance policies for aviation carbon credit scheme

London, 17 July 2025, Howden, the global insurance intermediary group, has been appointed by Gold Standard, the certification standard for climate and sustainable development, to approve insurance policies that support the eligibility of carbon credits for the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). 

This marks a major step forward in scaling high-integrity carbon markets and de-risking investment in climate action. The new insurance assessment process will provide carbon offset project developers with access to a wider pool of insurance products, to support the eligibility of credits for use under CORSIA’s first phase, covering 2024 to 2026. 

Howden will serve in an independent role overseeing the insurance policy approval process, ensuring these policies comply with strict criteria set by Gold Standard. This will support the establishment of a list of approved insurance policies, which project developers can use to insure against political risks associated with carbon credits. 

CORSIA was adopted by the International Civil Aviation Organization (ICAO) and requires aeroplane operators to offset the growth in international aviation emissions above a baseline. It applies to international flights between participating countries, covering most commercial airlines operating globally. Offsetting is crucial in aviation because it compensates for emissions that are challenging to eliminate. At the same time, CORSIA incentivises the use of sustainable fuels through methodologies that allow for reductions in offsetting requirements.

All international carriers participating in CORSIA are legally required to offset increases in emissions using either eligible carbon credits or sustainable aviation fuels. The scheme’s first phase includes strict requirements to avoid double counting between CORSIA and national targets, with several eligible standards – including Gold Standard – recognising insurance as an important route to address this risk.

Charlie Pool, Head of Carbon Markets, Climate Risk and Resilience, Howden, said: “This collaboration marks an important step for carbon markets. By broadening access to insurance products and reducing risks, the partnership will provide additional security, through independent verification, helping buyers purchase with confidence and in compliance with internationally recognised standards. 

“This is a perfect example of how embedded insurance enhances carbon market integrity, in this case supporting the aviation energy transition by allowing the issuance of credible carbon credits and facilitating compliance with CORSIA. The new insurance process will also allow more institutional capital, which was previously held back, to flow into the market, setting an exciting precedent that can be replicated elsewhere to unlock the full potential of carbon markets.”

Margaret Kim, CEO, Gold Standard, added: “To enable climate action for people and nature, we need to broaden access to new and growing markets, including CORSIA. By recognising insurance policies through a rigorous assessment process and allowing their use to address political risk, we can enable more projects to supply credits for CORSIA's first phase, in a way that is credible, reliable and based on solid foundations.”