CIX launches standardised CORSIA Phase 1 global spot contract

Climate Impact X (CIX) has launched a standardised physical spot contract, CIX CORSIA Phase 1 X – Global Market (CIX CP1X-GM), to enable trading of CORSIA Phase 1 Eligible Emissions Units (EEUs) from all ICAO fully approved registries.

• Launch details and contract mechanics: CIX launched the CIX CP1X-GM contract pooling supply from all ICAO fully approved registries for the 2024–2026 (Phase 1) compliance period; trading began with a day-one bid-offer spread narrowed to 10%, and the contract’s on-exchange daily spot pricing window is held at the intersection of Asian and European trading hours to consolidate liquidity. The CP1X-GM benchmark was assessed at US$19.50/mt as of 1 December 2025.
• Background, supply and eligibility specifics: The announcement follows Gold Standard’s first CORSIA-eligible issuance (Hestian’s Malawi clean cooking programme). Combined CORSIA Phase 1-eligible supply now exceeds 17.3 million EEUs (noting GS11677: 1.5 million and ART102/Guyana: 15.84 million). IATA forecasts 146–236 million tonnes of offset demand for Phase 1; only credits explicitly labelled CORSIA-eligible by ICAO-approved registries (ACR, ART, Climate Action Reserve, Global Carbon Council, Gold Standard, Isometric, T-VER, Verra) qualify for delivery, and newly approved programmes will be added with advance notice.