Econetix has secured a Letter of Authorization from Rwanda’s government for a carbon credit project that will supply up to 1.77 million metric tons of CORSIA-eligible emissions reductions, expanding the limited pool of credits available to airlines under the aviation industry’s global carbon offsetting program.
The authorization, issued by the Rwanda Environment Management Authority and renewable once, covers the Rwandan Improved Cookstove Project developed by Econetix’s local partner, Likano, and certified by Verra.
The approval refers to carbon credits generated between September 1, 2022, and August 31, 2027, to be transferred internationally under Article 6 of the Paris Agreement, with Rwanda applying corresponding adjustments to prevent double counting.
Most of the credits fall within the first compliance phase (CP1) of the Carbon Offsetting and Reduction Scheme for International Aviation, or CORSIA.
Addressing A Constrained Carbon Market
The announcement comes as airlines prepare for a growing compliance obligation under CORSIA while facing a limited supply of eligible credits.
According to Econetix, industry forecasts indicate airlines may require between 170 million and 236 million carbon credits during CP1, while only about 38 million to 40 million eligible units have been authorized globally.
Rwanda’s approval adds another source of supply to a market characterized by constrained availability.
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The Rwanda project also strengthens Econetix’s expanding Article 6 portfolio in Africa.
The company has already secured a similar authorization in the Democratic Republic of the Congo and is advancing projects in Uganda, Tanzania, Malawi and other countries.
“The Rwandan Improved Cookstove Project is exactly how our model should work: cleaner cooking for households on the ground, and high-integrity, CORSIA-eligible supply for the aviation market. Securing this Letter of Authorization is one of the hardest steps on that path,” said Jakob Zenz, CEO of Econetix, praising Likano as “the right partner on the ground.”
Read more: Singapore and Rwanda Open New Call For Article 6 Carbon Credit Projects
