Howden supports Gold Standard to approve the first private insurance policies under the first phase of CORSIA

Following our appointment earlier in the year, Gold Standard has approved the first private insurance policies for use by carbon project developers under the first phase of CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation).  

Read the full press release.

This demonstrates how the strategic use of insurance can help scale high-integrity carbon markets and accelerate climate investment. 

Following a rigorous assessment process launched by Gold Standard in July 2025, two innovative insurance products have now been approved: 

• CFC Underwriting Limited: CORSIA Guarantee Insurance 

• Oka, The Carbon Insurance Company®: Corresponding Adjustment Protect™ 

These approvals provide project developers with new routes to meet CORSIA’s strict requirements to avoid double counting under Article 6 of the Paris Agreement. Developers can now use these policies to support the eligibility of Gold Standard Verified Emission Reductions (GS-VERs) for CORSIA compliance, alongside existing options such as the Multilateral Investment Guarantee Agency’s Breach of Contract cover. 

Why this matters 

CORSIA, established by the International Civil Aviation Organization (ICAO), requires airlines to offset emissions growth above 2019 levels using eligible carbon credits or sustainable aviation fuels. Its first phase (2024–2026) includes stringent safeguards to ensure environmental integrity, including measures to prevent double counting between international and national targets. 

Insurance plays a critical role in this process. By underwriting political and regulatory risks, these policies give project developers confidence to commit to compliance mechanisms such as Deeds of Undertaking. This, in turn, enables Gold Standard to issue CORSIA-eligible credits - unlocking access to a vital carbon market and catalysing investment in climate solutions. 

Howden’s role 

In the summer of 2025, Howden was appointed by the two leading registries - Gold Standard and Verra - to serve as an independent assessor of insurance policies submitted for approval. Our role ensures that these products meet strict criteria, providing transparency and trust for all market participants. 

Charlie Pool, Head of Carbon Advisory, Climate Risk & Resilience, Howden, said:  “These policies enable Gold Standard to issue CORSIA-eligible credits, unlocking access to a vital carbon market. It’s exciting to see the insurance industry not only stepping up to underwrite these highly technical risks but also helping to catalyse innovation and accelerate the development of transition solutions.” 

Looking ahead 

This collaboration demonstrates how embedded insurance can enhance carbon market integrity and unlock institutional capital that has been held back by risk concerns. By broadening access to insurance products and reducing uncertainty, we are helping to accelerate the aviation sector’s energy transition and set a precedent for other markets. 

Read the full press release from Gold Standard.

Find our more about carbon insurance and CORSIA compliance.