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Milestone reflects accelerating demand for carbon insurance amid regulatory clarity, tightening supply, and approaching CORSIA compliance deadlines
Oka, the Lloyd’s-backed carbon insurance specialist, has surpassed 20 million CORSIA-eligible credits insured. The milestone comes as airlines face mounting pressure to secure eligible offsets, with insurance emerging as a pivotal means of bringing otherwise constrained supply to market.
Airlines must cancel eligible units covering their 2024–2026 first-phase obligations by January 2028, with participation becoming mandatory for most states from January 2027. Demand is expected to reach 220 million CORSIA-eligible credits by that deadline. Host-country authorisations covered 72 million credits as of August 2026 and continue to grow, but the pace of authorisation and corresponding adjustments (CAs), rather than the availability of underlying credits, will likely be the key constraint on supply.
Oka’s insurance pathway provides an alternative route to eligibility, allowing qualifying units to reach the market sooner. Its Corresponding Adjustment Protect policy insures against sovereign double-counting risk, protecting buyers if a project host country fails to apply the CA that prevents credits from being counted towards national climate targets. Approved by registries Gold Standard and Verra, the product provides a mechanism for developers and intermediaries to transact ahead of completed adjustments.
Demand for Oka’s cover has accelerated throughout 2026, with more than 70 transactions now insured across 10 host countries. Commercial interest strengthened following the European Commission’s July proposal clarifying the relationship between CORSIA and the EU Emissions Trading System, which reduced regulatory uncertainty and reinforced CORSIA’s role in international aviation compliance. Last month, a webinar co-hosted by Oka and Abatable drew more than 20 aviation companies and over 100 other market participants.
Stewart Duncan, Managing Director of Oka, said: “As airlines approach their first CORSIA compliance deadline, the question is no longer whether they’ll buy, but whether enough secure, eligible supply can reach the market in time. Passing 20 million insured credits highlights that insurance is an important part of how that supply gets transacted. Our role is to take uncertainty out of the deal for both buyers and sellers, so transactions that would otherwise stall can close.”
Abatable, ‘The carbon market dimensions that matter in 2026’ (2 Feb 2026)
International Air Transport Association (IATA), ‘Chart of the Week’ (18 Sep 2026)