Market Analysis · CD-VCM-AIRPORT
Airport Carbon Accreditation · Offsetting Levels 3+, 4+ and 5 · Claims Analysis · November 2026

Airport Carbon Credits: Purchases, Risks and Choices

Accredited airports retired 495,665 tCO2e of offsets and 20,754 tCO2e of removals in the programme’s sixteenth year, mostly through annual purchases from brokers, and the neutrality claims those credits support are now judged under consumer law and credit-integrity decisions that sit outside the accreditation.

By Vaibhav Jain · Managing Director, Climate Decode · · 9 min read

AIRPORT CARBON ACCREDITATION · CREDITS YEAR 16 OFFSETS RETIRED, LEVELS 3+ AND 4+85 airports, Year 16 (May 2024 to May 2025)495,665 t26% below the year before REMOVALS RETIRED, LEVEL 521 airports; afforestation the largest type20,754 tup from 17,465 t REMOVALS IN 2025 RETIREMENTSMarket-wide share, nearly all nature-basedabout 10%large buyers hold most offtakes EU BAN ON OFFSET-BASED CLAIMSDirective (EU) 2024/825, no transition period27 Sep 2026whatever the certificate behind it A voluntary certificate, judged under consumer law: the credit and the claim both need a file BUY TO THE LEVEL, NOT TO THE CHEAPEST TONNE

At a Glance · Airport Carbon Credits

The volume

495,665 TCO2E OFFSET

Retired by 85 airports at Levels 3+ and 4+ in Year 16, alongside 20,754 tCO2e of removals at Level 5.

The claim

EU BAN FROM 27 SEP 2026

Offset-based neutral or positive claims are banned in EU consumer communication, whatever certificate stands behind them.

The credits

12 METHODOLOGIES REJECTED

The ICVCM rejected eight renewable energy and four cookstove methodologies, and Issue 2 excludes their credits from accreditation.

Our View

Airport Carbon Accreditation is voluntary, yet the 85 airports at Levels 3+ and 4+ that retired 495,665 tCO2e of offsets in the programme’s sixteenth reporting year, and the 21 airports at Level 5 that retired 20,754 tCO2e of removals, did so to support public claims of neutrality and net zero, and those claims are now read against consumer law and credit-integrity decisions that the accreditation itself does not settle.

The offset records airports have published show purchases weighted towards cookstove, landfill gas and grid-connected renewable energy credits, bought once a year through a broker against a retirement certificate, with two records retiring credits six to ten years after the reduction took place, so that the ICVCM’s rejection of the main renewable energy and four cookstove methodologies, the EU ban on offset-based neutrality claims and the shortage of removals all reach the airport without having been priced into the purchase.

Airports should buy to their level and to the direction they are moving in, Level 3+ buying only what its final renewal requires from ICVCM-approved methodologies within a three-year vintage, Level 4+ adding a removal share that rises each year and Level 5 contracting a diversified removal portfolio years ahead, with every purchase backed by a due-diligence file and every claim worded to the accreditation level rather than to neutrality.

1

Voluntary Accreditation, Public Claims

Airport Carbon Accreditation, launched by ACI EUROPE in 2009, certifies airports at seven levels, from mapping a carbon footprint at Level 1 to net zero at Level 5, and at Levels 3+, 4+ and 5 it requires the airport to retire carbon credits against its residual emissions, which 85 airports at Levels 3+ and 4+ and 21 at Level 5 did in the programme’s sixteenth reporting year, from May 2024 to May 2025.1 The programme’s verifiers check that each credit comes from an eligible programme, sits within the vintage window and has been retired, whereas consumer law judges the claims an airport makes to passengers on their own merits, whatever certificate stands behind them.2

The EU Directive on Empowering Consumers for the Green Transition has applied since 27 September 2026 and bans, in all circumstances, claims that a product or service has a neutral, reduced or positive greenhouse gas impact on the basis of offsetting, with no transition period for claims already in use, as we set out in our analysis of the EU offset claims ban. The UK Digital Markets, Competition and Consumers Act has allowed the Competition and Markets Authority to fine for unfair commercial practices directly since 6 April 2025, up to 10% of global turnover, and the Australian Competition and Consumer Commission’s guidance of December 2023 expects a business to state which emissions a claim covers and how far it relies on purchased offsets.6,7,8

Aviation claims have already been tested, the District Court of Amsterdam having found in March 2024 that 15 of 19 statements challenged in an airline’s sustainability campaign were misleading, and a complaint to New Zealand’s Advertising Standards Authority against an airport’s climate positive claim, which argued that the claim rested on offsets and left out flight emissions, having ended in February 2024 after the airport said it had stopped using the phrase.9,10 An airport’s exposure therefore turns on two things the accreditation does not settle, the quality of the credits behind its claim and the words in which the claim is made.

2

What Airports Buy

Issue 2 of the Carbon Offset Requirements, which applies to credits bought since June 2025, obliges each airport to publish the crediting programme, project, volume and retirement date of the credits it retires, and the programme totals, read with the records that eight airports and airport groups have published, give a direct view of the credits behind accreditation.1,2,11 At programme level, offsetting is concentrated at Level 4+, where 53 airports retired 391,989 tCO2e in Year 16 against 103,676 tCO2e from the 32 airports at Level 3+, the combined 495,665 tCO2e being 26% below the 667,016 tCO2e retired in 2023 to 2024, while Level 5 removals rose to 20,754 tCO2e from 17,465 tCO2e.1

Credits retired under Airport Carbon Accreditation, Year 16, tCO2e
Level 4+ offsets
391,989 t
53 airports
Level 3+ offsets
103,676 t
32 airports
Level 5 removals
20,754 t
21 airports; 17,802 t from the Verified Carbon Standard
Offsets at Levels 3+ and 4+ together fell to 495,665 t from 667,016 t in 2023 to 2024; Level 5 removals rose from 17,465 t.
Figure 1 · Credits retired by accredited airports in Year 16, May 2024 to May 2025, by level. Source: Airport Carbon Accreditation Annual Report 2024-2025.

The offsets retired at Levels 3+ and 4+ are reported by programme but not by project type, host country or vintage, so that the airports’ own records are the only public view of what was bought, and they show avoidance credits accounting for most of the tonnes named, from landfill gas, cookstoves and grid-connected wind, hydro and solar, with the projects located in China, Brazil, Burkina Faso, Cambodia, Peru, Mali, Turkey and India.11

PatternWhat the published records show
Avoidance credits dominateLandfill gas credits of 2021 vintage at an Italian hub group, the largest single volume at 64,600 tCO2e; cookstoves at a Belgian hub and a French regional airport; grid-connected wind, hydro and solar at airports in the United Kingdom, France and the Netherlands
Old vintagesA UK regional airport retiring 2013 to 2016 wind credits between 2022 and 2025, and a French regional airport listing 2016 to 2019 cookstove credits in its 2026 record, against an Issue 2 window of five years before the application year
A move to removalsA Danish hub at Level 4+ moving from 23,000 tCO2e of agroforestry credits in 2024 to reforestation, biochar and a small volume of direct air capture in 2025 and 2026
Removals at Level 5Afforestation the largest removal type, and 17,802 of the 20,754 tCO2e retired from Verra’s Verified Carbon Standard
Renewable credits at Indian airports134,829 tCO2e of 2020 to 2022 vintage credits from grid-connected solar and wind projects in India under ACM0002, retired between December 2023 and September 2024
Level 5 removals at Indian airports20,147 tCO2e of 2020 and 2021 vintage removals from two afforestation projects in China under AR-ACM0003, retired by three airports between June 2024 and December 2025

Table 1 · What published airport offset records and registry retirement notes show, with airport names withheld. Sources: retirement certificates, offsetting reports and disclosure pages of eight airports and airport groups, read November 2026; Climate Decode registry data, Verra retirements to 2 June 2026; Airport Carbon Accreditation Annual Report 2024-2025.

Registry records add a view from India, where each retirement note names the airport and the accreditation level it supports, and Climate Decode’s registry data to 2 June 2026 shows Indian airports retiring 134,829 tCO2e of 2020 to 2022 vintage credits from grid-connected solar and wind projects in India under ACM0002 between December 2023 and September 2024, mostly for Level 4+, before Issue 2 excluded that methodology, while three Indian airports retired 20,147 tCO2e of 2020 and 2021 vintage removals from two afforestation projects in China for their Level 5 claims between June 2024 and December 2025, so that the first Level 5 removals in Asia rest on a narrow and ageing base of plantation credits from outside the country while Indian reforestation and soil carbon projects issue on the same registry.16 The line between avoidance and removal is not always kept in these notes either, two retirements of REDD+ credits under VM0015 in 2025 and 2026 being described as removal credits or as part of Level 5, although REDD+ credits avoid emissions rather than remove them and Level 5 accepts removals only.2,16

The published records cover the airports whose disclosures could be read in full, most of them in Europe, and the registry notes add India, so that together they indicate the pattern of purchasing rather than market shares, and the direction the Danish hub has taken is the one set by Level 5 and by the Oxford Offsetting Principles, revised in February 2024 to shift residual-emission offsetting towards removals with long-lived storage by the net-zero date.12

The free report lists every published airport record by credit type, host country, standard, vintage and volume.

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3

How the Buying Is Done

Purchasing in these records follows an annual cycle in which the airport closes its footprint, calculates the residual volume, buys credits shortly before the accreditation application, retires them and publishes the certificate, with the purchase commonly placed through a broker or an offset retailer, so that the airport sees a price and a certificate rather than the project behind them.11 The purchase and retirement recur every year, including the interim years in which no verification takes place, while the Verifier Requirements of May 2026 set verification every second year at Level 3+, every third year at Levels 4 and 4+ and every year at Level 5, so that at Level 4+ a credit that fails the rules can be retired in two successive interim years before a verifier examines it.2,4

StageTypical practiceGap under current rules
VolumeResidual volume calculated after the year closesVolume not tied to the reduction plan or to the requirements of the next level
SourcingBroker quote for the lowest-cost eligible tonneNo project-level due diligence; methodology status and vintage often unchecked against Issue 2 and the ICVCM decisions
TimingA single spot purchase before each applicationNo forward supply of removals for the step to Level 5, and exposure to each year’s availability
EvidenceRegistry retirement certificateIssue 2 disclosure assembled by hand, with no due-diligence file for the verifier or for later scrutiny
ClaimCarbon neutral wording in passenger-facing communicationOffset-based neutrality claims banned in EU consumer communication since 27 September 2026

Table 2 · The annual purchasing cycle and the gap each stage leaves under the current rules. Sources: published airport records; Carbon Offset Requirements, Issue 2; Directive (EU) 2024/825.

The cycle tends to select the lowest-cost credit that passes eligibility, since each purchase is made against a deadline and judged on its certificate, and eligibility under Issue 2 does not by itself test over-crediting, which is where the largest losses of value in recent years have arisen, in cookstove and forest projects whose credits registries have since cancelled or found to have been issued in excess.13,14

4

Risk Exposure

The exposures that follow from this cycle fall into six groups, each of which already has a public record, and Table 3 sets out that record against what it means for an airport at Levels 3+, 4+ or 5.

RiskPublic recordExposure for an airport
Consumer claimsEU ban on offset-based neutrality claims from 27 September 2026; CMA fines of up to 10% of global turnover since April 2025; ACCC guidance on carbon neutral claims, December 2023Passenger-facing neutral or net zero wording that rests on offsets
Complaints and litigation15 of 19 airline sustainability statements found misleading, March 2024; complaint over a New Zealand airport’s climate positive claim ended after the airport dropped the phrase, February 2024Claims withdrawn under challenge, with reputational cost
Methodology rejectionICVCM rejected eight renewable energy methodologies covering about 236 million unretired credits, some 32% of the market, in August 2024, and four cookstove methodologies in March 2025, approving three others only with conditions on fuel and fNRB dataCredits excluded under Issue 2, and holdings that lose their value before retirement
Over-creditingVerra cancelled 5,004,915 over-issued credits from cookstove projects, October 2024; a review of the Kariba REDD+ project found 57% of nearly 27 million credits issued in excess, September 2025The airport’s name on a project later found to be over-credited
AccreditationIssue 2 tests apply to purchases from June 2025; Level 3+ no longer accepts new applications, and a certificate expiring by 31 December 2026 may be renewed only once moreCredits that cannot be counted, and a neutrality claim that lapses
Removal supplyAbout 10% of credits retired in 2025 were removals, nearly all nature-based; multi-year reforestation offtakes exceeded 31 Mt by early 2026, more than 95% of them by one buyerLevel 5 airports competing for removals that larger buyers contract years ahead

Table 3 · Risks a voluntary offsetting claim exposes an airport to. Sources: notes 3, 5 to 10 and 13 to 15.

Two of these exposures are new in 2026 and fall on every airport that offsets, the EU ban on offset-based neutrality claims and the phasing out of Level 3+, under which an airport whose Level 3+ certificate expires by 31 December 2026 may renew only once more, so that a Level 3+ airport needs a decision on Level 4+, and on the credits that Level 4+ will require, before that renewal runs out.3,6

5

What Each Level Should Buy

The choice of credit follows from the airport’s level and the direction it is moving in, and Table 4 sets out, for each level that retires credits, what to buy and how to contract and claim, consistent with Issue 2, the ICVCM decisions and the Oxford Offsetting Principles.2,5,12

LevelBuyContract and claim
3+Only the volume the final Level 3+ renewal requires, from ICVCM-approved methodologies, with vintages within three yearsA spot purchase for the last renewal, a decision on Level 4+ before the certificate expires, and claims stated as the accreditation level
4+Approved avoidance credits, such as cookstoves meeting the ICVCM conditions on fNRB and fuel measurement, together with a removal share that rises each year towards the target dateMulti-year agreements to fix vintage and supply, and a due-diligence file published with the Issue 2 disclosure
5A diversified removal portfolio across reforestation and afforestation with buffer pools, soil carbon and biochar, with a share of durable removals where the budget allowsForward offtakes with delivery and replacement terms, reversal monitoring, and net zero claims limited to the scopes accredited

Table 4 · What each accreditation level should buy. The free report adds what to avoid at each level, a six-question self-check and an illustrative due-diligence card. Sources: Carbon Offset Requirements, Issue 2; Levels 3 and 3+ Requirements, Edition 1.0; ICVCM decisions; Oxford Offsetting Principles (2024).

At every level the due-diligence file should record, for each project, the methodology and its ICVCM status, the baseline and over-crediting risk, permanence and buffer arrangements, safeguards and co-benefits, and the vintage and retirement record, so that the same file serves the verifier, the airport’s disclosure and any later challenge to its claim, and we set out the detailed rules in our guides to Level 3+ credit procurement and to Level 5 removal requirements.

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Airport Carbon Credits: Purchases, Risks and Choices

The full synthesis for airports at Levels 3+ to 5: what changed in 2025 and 2026, every published airport record in one table, the buying guide by level with what to avoid, and peers by level and region.

  • 12 pages and 17 sources, November 2026
  • A six-question self-check an airport can answer from its own records
  • An illustrative due-diligence card and peer tables by region
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Notes

1 Airport Carbon Accreditation, Annual Report 2024-2025, Year 16 (May 2024 to May 2025), ACI EUROPE, March 2026: accredited airports by level and region, credits retired by level and removal types. link
2 Airport Carbon Accreditation, Carbon Offset Requirements, Issue 2, June 2025, sections 1 to 4: eligible programmes, excluded project types and methodologies, vintage window, purchase timing and publication of retired credits. link
3 Airport Carbon Accreditation, Requirements for All Levels, Edition 1.0, 2026, and Levels 3 and 3+ Requirements, Edition 1.0, January 2026, section 1, Box 2, on the phasing out of Level 3+. link 1 link 2
4 Airport Carbon Accreditation, Verifier Requirements, Edition 1.0, May 2026, Table 2, verification frequency by level. link
5 ICVCM decisions on renewable energy methodologies (6 August 2024), REDD+ methodologies (15 November 2024) and cookstove methodologies (7 March 2025); market share of rejected renewable energy credits as reported by Bloomberg, 6 August 2024. link 1 link 2 link 3
6 Directive (EU) 2024/825 on empowering consumers for the green transition, applying from 27 September 2026, Annex I, point 4c. link
7 UK Digital Markets, Competition and Consumers Act 2024, Part 3, consumer enforcement regime in force from 6 April 2025. link
8 Australian Competition and Consumer Commission, Making environmental claims: a guide for business, December 2023. link
9 District Court of Amsterdam, Fossielvrij NL v KLM, judgment of 20 March 2024, unofficial English translation published by ClientEarth. link
10 RNZ, report of February 2024 on an airport ending its climate positive claim after an Advertising Standards Authority complaint. link
11 Published offset records of eight airports and airport groups: retirement certificates, offsetting reports and disclosure pages, read November 2026; airport names and links withheld.
12 University of Oxford, Oxford researchers launch updated carbon offsetting principles, 28 February 2024. link
13 Verra, Verra cancels 5 million over-issued credits linked to C-Quest Capital, October 2024. link
14 Climate Home News, Zimbabwe forest carbon megaproject generated millions of junk credits, 30 September 2025. link
15 MSCI, carbon credit market review, January 2026, on the share of removals in 2025 retirements; Fastmarkets, carbon credit demand review, February 2026, on multi-year reforestation offtakes. link 1 link 2
16 Climate Decode registry data, Verra VCU retirements to 2 June 2026: retirements whose beneficiary names an airport operator in India, with the accreditation level taken from the retirement details recorded on the registry; project country, methodology and vintage as listed by Verra. link

Sources

This article summarises public documents and published airport records for information and is not legal advice; the Airport Carbon Accreditation documents and the programme Administrator remain the authority on accreditation requirements, and Climate Decode is not affiliated with ACI EUROPE or Airport Carbon Accreditation.

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About the Author

Vaibhav Jain, Managing Director, Climate Decode

Vaibhav Jain

Managing Director, Climate Decode

12+ years in carbon markets and climate finance across four continents. Leads the Canopy product and aligned advisory services in corporate sustainability. 79+ projects delivered across 25 countries. Formerly South Pole · Yes Bank · PwC.

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