What does Gold Standard approval for first political risk insurer mean for the CORSIA Market?

Gold Standard has approved its fifth insurance policy for project developers seeking CORSIA eligibility: the Sovereign Corresponding Adjustment Revocation & Enforced Withdrawal (SCREW) policy, underwritten by Blenheim Partnerships Limited.

Following an independent review by Howden, this marks the first time a traditional political risk insurer has entered the CORSIA space. By bringing fresh balance-sheet capacity alongside established providers (like MIGA, Artio, CFC, and Oka), this update helps address one of the biggest headaches facing international aviation today: a very real shortage of eligible credits relative to airline demand. As highlighted at London Climate Week, stakeholders emphasized the importance of addressing immediate and practical bottlenecks, particularly delays in tagging credits that have already secured the required Corresponding Adjustments (CAs). Maintaining confidence in CORSIA requires alignment, consistency, and a commitment to avoid last-minute rule changes or conflicting interpretations of Article 6 requirements.

What changes for developers and airlines?

As underlined by ICAO’s rules, carbon credits used by airlines must carry a host-country Letter of Authorization (LoA) with a Corresponding Adjustment under Article 6 of the Paris Agreement or be backed by an approved insurance policy that guarantees replacement if double-claiming ever occurs.

Ultimately, adding a traditional political risk insurer is a helpful step forward to:

• Unlock New Capital: Traditional political risk insurers bring deep capacity, giving institutional investors greater confidence to fund early-stage projects.
• Soften Sovereign Risk: It protects developers and buyers against unexpected regulatory shifts, political instability, or delays in host-government approvals.
• Smooth the Path for VCM Projects: High-quality voluntary market projects can secure Gold Standard CORSIA labeling more smoothly, helping convert strong VCM supply into compliance-ready credits.

How Aither helps bridge the regulatory gap:

Navigating these changing regulations is not only about buying an insurance policy but also about ensuring every step of a project’s lifecycle is aligned, from initial on-ground engineering to final compliance retirement.
Aither brings together a decade of experience in the Voluntary Carbon Market (VCM) and hands-on CORSIA expertise to help both project owners and airlines move forward with clarity. Aither provides:

1. High-Integrity Supply (The Aither Impact Team)

Our in-house team of carbon engineers works directly on project design across two core areas:

• Nature-Based Solutions (NBS): Forestry, soil, and ecosystem restoration projects focused on biodiversity and long-term carbon removals.
• Technology-Based Solutions (TBS): Clean cookstoves, e-mobility, and energy transition projects that deliver clear emission reductions while directly supporting local communities.

2. Structuring & De-Risking

Our advisory and finance specialists curate VCM projects into bankable, CORSIA-ready assets. The developers are guided through standard selection (Gold Standard, VCS, GCC, CDM) and Article 6 host-country LoAs, while integrating newly approved insurance tools directly into financial structures to keep pipelines moving.

3. Dedicated Aviation Desk

For airlines facing tight compliance windows, our Aviation Desk offers end-to-end guidance:

• Sourcing LoA & Insured Credits: Access to vetted, high-quality credit portfolios designed specifically to meet ICAO criteria.
• Emissions Monitoring & Reporting: Support with setting up accurate tracking systems to meet annual mandates seamlessly.
• Balanced Portfolios: Thoughtfully curated credit portfolios that balance compliance guarantees, budget targets, and meaningful community co-benefits.