CORSIA's MRV (Monitoring, Reporting, and Verification) system comprises three main components:
Monitoring of CO2 Emissions:
CO2 emissions monitoring can be conducted either through the Fuel Use Monitoring Method or by utilizing the ICAO CORSIA CERT. In the former method, each operator must gather precise data on fuel usage per flight and compute CO2 emissions by multiplying the fuel consumption by a conversion factor representing the CO2 produced per tonne of fuel used. Aeroplane operators are obligated to outline their approach to CO2 emissions monitoring in an Emissions Monitoring Plan, which is then submitted for approval by the respective State.
Reporting of CO2 Emissions:
Following the monitoring and calculation of CO2 emissions, aeroplane operators are required to report pertinent information to their State Authority, which in turn transmits the data to ICAO using standardized templates and procedures. ICAO aggregates the CO2 emissions data, computes the annual Sectoral Growth Factor, and communicates this factor to the States.
Verification of CO2 Emissions Information:
The verification process ensures the accuracy and integrity of the data collected. Essentially, a third party verifies that all procedures have been carried out correctly, akin to the auditing practices commonly employed in financial contexts.