PCS COR 008 CORSIA Eligibility Standard_v1.0

Document Control

Document identification

• Document code: PCS-COR-008

• Title: CORSIA Eligibility Standard (Projects and Issuances)

• Scope: Defines the criteria, processes, and controls under which PCS projects and PCS-issued credits may be recognized and labeled as CORSIA-eligible, including governance alignment, validation/verification expectations, host authorization and corresponding adjustment expectations, registry labelling, transparency requirements, and ongoing eligibility controls.

• Outcome: Enables eligible PCS credits to be labelled and managed as CORSIA-eligible units under PCS rules, subject to any external recognition constraints where applicable.

Version history and change log

Table DC-1. Revision history

Version	Date	Status	Summary of changes	Prepared by	Approved by
v1.0	TBD	Draft	Initial release for public consultation	PCS	TBD

Superseded versions

No superseded versions for v1.0.

Governance note on versioning and archiving

Only the latest approved version of this Standard shall be used. Superseded versions shall be archived and retained for traceability and audit purposes, consistent with PCS governance rules.

Chapter 1 - Introduction

1.1 Background

1. The Planetary Carbon Standard (PCS) is an independent greenhouse-gas (GHG) crediting framework that issues PCS Carbon Credits (PCCs) through a blockchain-integrated registry ensuring complete traceability, integrity, and transparency.

2. The aviation sector, governed by the International Civil Aviation Organization (ICAO), adopted the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) at the 39ᵗʰ Session of the ICAO Assembly in 2016 (Resolution A39-3) and refined it under Resolution A40-19.

• CORSIA forms part of the global response to climate change, aiming to achieve carbon-neutral growth from 2020 by obligating operators engaged in international aviation to offset a portion of their CO₂ emissions through high-integrity emission units.

1. To ensure environmental integrity, ICAO established the Emissions Unit Eligibility Criteria (EUC) and maintains a public list of CORSIA Eligible Emissions Units (EEU).

• Only units issued by programs that satisfy the EUC—and that meet all corresponding adjustment and transparency conditions—may be used for CORSIA compliance.

1. The PCS Standard on CORSIA Eligibility of Projects and Issuances (PCS-Standard-002) defines the conditions under which PCS-issued credits are recognized as CORSIA-eligible units, in full conformity with ICAO requirements and with the accounting guidance under Article 6 of the Paris Agreement.

2. The PCS framework extends beyond simple registry alignment: its distributed-ledger architecture provides tamper-proof auditability, enabling regulators, Host Parties, and aircraft operators to verify every issuance, transfer, and retirement event in real time.

1.2 Legal and Institutional Context

1. The legal foundation for CORSIA stems from:

• ICAO Assembly Resolutions A39-3 and A40-19, establishing and operationalizing CORSIA;

• ICAO Council Decision C-DEC 221/5 (2021), adopting the final version of the Emissions Unit Eligibility Criteria (EUC);

• Paris Agreement Article 6, mandating avoidance of double counting through corresponding adjustments; and

• UNFCCC CMA Decisions 2/CMA.3 and 3/CMA.3, providing detailed guidance for cooperative approaches.

1. The Planetary Carbon Standard is not administered by ICAO or any national government.

• Instead, PCS functions as an independent technical standard aligned with these frameworks to enable its credits to meet eligibility requirements for multiple compliance and voluntary applications—including CORSIA.

1. Within PCS, the Regulatory Committee (RC) acts as the technical authority for maintaining alignment with ICAO and UNFCCC decisions, while the PCS Secretariat operates the registry, oversees accreditation of Validation & Verification Bodies (VVBs), and ensures compliance with this Standard.

1.3 Objective and Purpose

1. This Standard establishes the criteria, processes, and controls necessary for PCS projects and issuances to qualify for use under the CORSIA mechanism.

1

Objective 1

Integrate ICAO EUC into the PCS project cycle.

2

Objective 2

Ensure all mitigation outcomes intended for CORSIA use are authorized by the Host Party and accompanied by a Corresponding Adjustment (CA).

3

Objective 3

Define the eligibility of project types, vintages, and methodologies consistent with the current CORSIA Eligible Emissions Units (EEU) publication.

4

Objective 4

Establish a PCS CORSIA Eligibility Label recorded on the blockchain, signifying verified conformity.

5

Objective 5

Maintain complete transparency through public registry disclosure and interoperability with international systems.

1.4 Rationale for PCS Alignment with CORSIA

1. International aviation represents one of the fastest-growing sources of global GHG emissions. ICAO’s offsetting mechanism depends on high-quality credits that are not double counted, are backed by robust MRV, and demonstrate measurable climate benefit.

2. PCS’s digital infrastructure directly addresses key integrity risks identified by ICAO and the Integrity Council for the Voluntary Carbon Market (ICVCM) by providing:

• Blockchain-secured MRV data, eliminating post-issuance manipulation;

• Smart-contract-driven issuance and retirement, ensuring one-time use of each unit; and

• Automated verification of Host-Party authorizations and CAs using cryptographic signatures.

1. Through this integration, PCS strengthens transparency between national accounting systems, program registries, and airline operators, fulfilling the Article 6 mandate for cooperative approaches while maintaining program independence.

1.5 Applicability

1. This Standard applies to:

• All PCS projects that intend to supply emission reductions or removals for use by aircraft operators under CORSIA;

• All PCS Carbon Credits (PCCs) seeking labeling as “PCS CORSIA Eligible”;

• Validation & Verification Bodies (VVBs) performing assurance on CORSIA-bound projects;

• Host Parties issuing Letters of Authorization (LoAs) under Article 6; and

• Market participants (buyers, aggregators, and exchanges) handling PCS-issued CORSIA-eligible units.

1. Credits issued purely for voluntary use remain governed by other PCS standards (e.g., PCS-Standard-001) but may transition to CORSIA eligibility if they later meet all requirements of this Standard.

1.6 Structure of the Standard

1. This document contains the following chapters:

Chapter	Title	Content Overview
1	Introduction	Context, objectives, and rationale (this chapter).
2	Entry into Force and Version Control	Legal effect, implementation schedule, and version management.
3	Purpose and Scope	Detailed description of scope, boundaries, and exclusions.
4	CORSIA Approval Status and Eligibility Conditions	Phases, vintages, project types, and Host-Party authorization requirements.
5	PCS CORSIA Project Cycle Process	Step-by-step workflow from registration through issuance and retirement.
6	PCS CORSIA Requirements (Phase 2024–2026 and Beyond)	Core technical and procedural obligations for all actors.
7	Verification of Corresponding Adjustments and Host Authorization	Methodology for LoA validation and CA recording on blockchain.
8	Monitoring, Reporting & Transparency	MRV integration, public disclosure, and interoperability.
9	References and Legal Basis	Normative sources: ICAO EUC, UNFCCC Decisions, ISO Standards, etc.

1.7 Relationship to Other PCS Standards

1. PCS-Standard-002 complements and shall be applied together with:

• PCS-Standard-001 (Avoidance of Double Counting and Corresponding Adjustments);

• PCS-Standard-004 (Validation & Verification Standard); and

• PCS Registry and Digital Infrastructure Protocol.

1. Where provisions overlap, the rule most stringent in ensuring alignment with ICAO EUC and UNFCCC guidance shall prevail.

1.8 Normative References

1. This Standard draws authority from:

• ICAO CORSIA Emissions Unit Eligibility Criteria (EUC), 2021 Edition;

• CORSIA Eligible Emissions Units (EEU) List, latest revision (October 2024 or successor);

• UNFCCC Paris Agreement, Articles 4 & 6;

• UNFCCC CMA Decisions 2/CMA.3 and 3/CMA.3;

• IPCC 2006 Guidelines for National GHG Inventories and 2019 Refinement;

• ISO 14064-2:2019 and ISO 14064-3:2019; and

• ICVCM Core Carbon Principles (2023).

1.9 Outcome of Implementation

1. By applying this Standard, PCS:

• Establishes formal compatibility with ICAO CORSIA requirements for the 2024–2026 phase and beyond;

• Guarantees that every CORSIA-labeled PCS credit is backed by verified MRV data, Host Party authorization, and a recorded CA; and

• Provides a transparent, blockchain-based framework recognized for its integrity, interoperability, and technological innovation in global aviation decarbonization.

Chapter 2 - Entry into Force and Version Control

2.1 Authority and Approval

1. This Standard is issued under the authority of the Planetary Carbon Standard Regulatory Committee (RC) in accordance with the PCS Framework and Program Governance Procedures.

2. The RC shall review and approve all new or revised versions of this Standard before publication on the PCS Portal and Registry.

3. Once approved, the Standard becomes binding on all registered PCS projects, Validation & Verification Bodies (VVBs), and Registry participants as of the effective date defined in Section 2.2.

2.2 Effective Date

1. Initial Entry into Force:

2. This Standard enters into force on the date of its formal adoption by the PCS Regulatory Committee and publication in the PCS Official Document Repository.

3. The entry-into-force date shall be clearly indicated on the cover page and recorded in the PCS Version Register.

4. Operational Activation:

5. Projects registered under PCS on or after the entry-into-force date are required to comply fully with this Standard if they seek the PCS CORSIA Eligibility Label.

6. Projects already validated or verified under earlier PCS rules may apply for transitional approval as outlined in Section 2.5.

7. Alignment with ICAO CORSIA Phases:

This Standard corresponds initially to the CORSIA First Phase (2024 – 2026) and shall remain valid until superseded or revised to reflect new ICAO decisions for subsequent phases (e.g., 2027–2035).

2.3 Relationship with ICAO Recognition

1. The Planetary Carbon Standard Secretariat shall seek formal recognition by the International Civil Aviation Organization (ICAO) for inclusion in the CORSIA Eligible Emissions Unit (EEU) list.

2. The effective use of PCS-issued credits for compliance by aircraft operators under CORSIA becomes possible only after ICAO lists PCS as an eligible program.

3. Until such listing occurs, the Standard operates in “pre-recognition mode”, enabling projects to prepare documentation and establish CA records for rapid approval once official recognition is granted.

4. Upon inclusion in the ICAO EEU list, the PCS Secretariat shall issue a CORSIA Eligibility Notice to all participants and update the Registry’s metadata fields accordingly.

2.4 Applicability of Future Versions

1. The PCS Regulatory Committee may amend or replace this Standard to maintain alignment with:

• new or revised ICAO EUC and EEU documents;

• updates to UNFCCC Article 6 guidance or reporting frameworks;

• ICVCM and IPCC methodological improvements; and

• technological developments in PCS’s blockchain registry.

1. When a new version is adopted, the RC will publish:

• Version Summary Note outlining all substantive changes;

• Implementation Timeline specifying transition periods; and

• _Cross-Reference Matrix_linking revised clauses to previous numbering.

1. Earlier versions remain valid solely for credits issued before the new effective date, unless otherwise directed by the RC.

2.5 Transitional Arrangements

1

Projects Validated Prior to CORSIA Recognition

Projects validated or verified before PCS obtains formal ICAO recognition may apply retroactively for CORSIA labeling if they:

• demonstrate full compliance with this Standard;

• possess a valid Host Party Letter of Authorization (LoA); and

• have recorded a Corresponding Adjustment (CA) on the PCS blockchain.

2

Pilot-Phase Vintages (2021 – 2023)

PCS may issue retrospective CORSIA labels for pilot-phase vintages only if ICAO’s latest EEU document expressly confirms their eligibility and the units meet all CA and MRV requirements.

3

First Phase (2024 – 2026) and Beyond

All new PCS registrations and issuances for vintages 2021 onward must adhere to this Standard.

4

Review and Validation

PCS Secretariat shall verify each transitional application, cross-check LoA authenticity, and record approvals on the blockchain ledger.

2.6 Document Control and Identification

1. Each version of this Standard shall bear a unique identifier structured as:

PCS-STD-002 | Version [number] | Effective [date].

1. The document header and footer shall contain:

• version number, effective date, page count, and confidentiality status;

• the PCS logo and copyright notice.

1. Superseded versions remain accessible in the PCS Archive Repository to ensure transparency and historical traceability.

2.7 Review Cycle and Continuous Improvement

1. The PCS Regulatory Committee shall conduct a minimum biennial review of this Standard to evaluate consistency with the latest ICAO, UNFCCC, and ICVCM guidance.

2. Reviews may be accelerated whenever:

• ICAO issues new EUC criteria or EEU program updates;

• UNFCCC adopts new Article 6 reporting rules; or

• technological advancements in PCS blockchain or API interoperability require protocol adjustments.

1. Findings from each review shall be documented in the PCS Change Log and made publicly available via the PCS Portal.

2.8 Effect of Revision on Existing Credits

1. Credits already issued and labeled as “PCS CORSIA Eligible” shall remain valid provided they continue to meet ICAO criteria in effect at the time of issuance.

2. If ICAO subsequently narrows eligibility (e.g., through updated vintage or methodology restrictions), PCS will undertake a review and may either:

• maintain existing labels with a notation of the change; or

• remove the label where continued eligibility cannot be demonstrated.

1. All changes to label status shall be recorded on-chain for full transparency.

2.9 Outcome

1. Implementation of this chapter ensures that:

• PCS maintains a formal and traceable process for version management and alignment with ICAO CORSIA requirements;

• transitional projects can adapt seamlessly to new phases without losing integrity; and

• stakeholders retain confidence that all PCS CORSIA Eligible credits are governed under a stable, up-to-date legal framework.

Chapter 3 - Purpose and Scope

3.1 Purpose

1. The purpose of this Standard is to define the governing framework, eligibility criteria, and procedural requirements through which Planetary Carbon Standard (PCS) projects and issuances can obtain and maintain CORSIA-eligibility in accordance with ICAO’s Emissions Unit Eligibility Criteria (EUC, 2021) and subsequent amendments.

2. It establishes the technical and administrative linkage between:

• the PCS project cycle (registration, monitoring, validation, verification, issuance, and retirement);

• the Host Party’s Article 6 accounting framework and application of Corresponding Adjustments (CAs); and

• the ICAO CORSIA compliance cycle for aircraft operators.

1. The Standard also provides a governance bridge between PCS and international institutions, ensuring that all CORSIA-eligible PCS Carbon Credits (PCCs):

• are authorized by the relevant Host Party;

• are recorded in a blockchain-secured registry providing immutable traceability; and

• satisfy ICAO’s environmental-integrity, transparency, and permanence requirements.

1. Implementation of this Standard enables PCS to function as a recognized, independent Article 6-compatible crediting program whose units can be used both for:

• CORSIA compliance; and

• voluntary or domestic applications that require CORSIA-equivalent integrity.

3.2 Objectives

1. The objectives of this Standard are to:

1

Ensure that PCS Carbon Credits meet or exceed the CORSIA EUC for program design, governance, MRV quality, safeguards, and registry operations.

2

Establish clear processes for Host Party authorization and application of CAs to avoid double counting under Article 6 of the Paris Agreement.

3

Define eligibility boundaries for projects, vintages, and methodologies consistent with ICAO’s CORSIA Eligible Emissions Units (EEU) publication.

4

Integrate CORSIA-specific quality assurance into PCS validation and verification procedures.

5

Maintain transparency and interoperability between PCS’s blockchain registry and international data systems (UNFCCC Article 6 Database, World Bank Climate Warehouse, and ICAO Registry).

6

Provide a pathway for projects validated under PCS to transition to CORSIA eligibility once ICAO recognition is formalized.

3.3 Scope

1. Material Scope

This Standard governs all activities related to:

• project registration and approval for CORSIA eligibility;

• issuance, transfer, and retirement of PCS Carbon Credits intended for CORSIA use;

• verification of Host Party LoAs and CAs; and

• registry-level processes ensuring conformity with ICAO transparency and accounting expectations.

1. Temporal Scope

This Standard initially applies to CORSIA First Phase (2024 – 2026) and remains valid until updated for subsequent phases.

Mitigation outcomes generated from 2021 onward may be considered for CORSIA labeling provided they fall within the vintage windows and program-eligibility conditions specified in the most recent ICAO EEU document.

1. Geographical Scope

Applicable to projects implemented in any Host Party that has:

• submitted a Nationally Determined Contribution (NDC) under the UNFCCC;

• established or designated an Article 6 authority (DNA); and

• issued a Letter of Authorization confirming participation in PCS and application of CAs.

1. Institutional Scope

2. Binding on:

• PCS Secretariat (program administration and registry operation);

• PCS Regulatory Committee (RC) and Steering Committee (SC) (oversight and policy);

• Project Proponents (PPs) and their agents;

• Validation & Verification Bodies (VVBs) approved under PCS;

• Host Parties and their DNAs; and

• Market Participants (buyers, exchanges, or aggregators handling PCS credits for CORSIA use).

3.4 Exclusions

1. Voluntary Market Use

This Standard does not govern the issuance or use of PCS credits intended exclusively for voluntary or corporate offsetting purposes, unless those credits are subsequently designated for CORSIA eligibility.

1. Non-Article 6 Activities

Projects or programs operating wholly outside the Paris Agreement accounting framework are excluded unless the Host Party later elects to authorize them under Article 6 and provide corresponding adjustments.

1. Legacy Programs and Registries

Units imported from external registries or legacy mechanisms (e.g., CDM) are ineligible for CORSIA labeling unless ICAO specifically lists such vintages in the current EEU.

1. Technological Exclusions

Project categories explicitly excluded by ICAO EUC (e.g., those lacking permanence or measurable baselines) shall not be approved for CORSIA eligibility within PCS.

3.5 Boundary Conditions

1. Accounting Boundary

PCS shall ensure that project-level emission reductions or removals are accounted for only once, either in the Host Party’s NDC or as internationally transferred mitigation outcomes (ITMOs) under CORSIA.

1. Temporal Boundary

Mitigation outcomes must fall within the start and end dates of an approved CORSIA phase and be verified within 24 months of the end of the monitoring period.

1. Institutional Boundary

Only authorized entities registered in the PCS Registry may hold, transfer, or retire CORSIA-eligible PCCs.

1. Technological Boundary

Projects must employ approved PCS methodologies that align with ICAO EUC criteria on quantification, leakage prevention, and permanence management.

3.6 Interaction with Article 6 Mechanisms

1. Cooperative Approaches (Article 6.2)

PCS-issued mitigation outcomes used under CORSIA shall be treated as ITMOs and subject to the Host Party’s corresponding adjustment requirements in accordance with Decision 2/CMA.3.

1. Article 6.4 Mechanism Alignment

PCS may recognize methodologies, validation procedures, or project types consistent with the forthcoming UNFCCC Article 6.4 Mechanism once operationalized, ensuring interoperability.

1. Avoidance of Double Claiming

All units labelled for CORSIA are flagged on-chain as “Transferred – Article 6/CORSIA” and rendered ineligible for any other NDC or voluntary claim.

3.7 Responsibilities

Actor	Primary Responsibilities under this Standard
Project Proponent (PP)	Prepare and submit LoA, ensure CA documentation, implement MRV plan, and comply with PCS CORSIA project-cycle requirements.
Validation & Verification Body (VVB)	Validate/verify data consistency with ICAO EUC and IPCC guidelines; confirm Host Party authorization; issue verification report.
PCS Secretariat	Operate blockchain registry; validate LoA and CA records; issue or revoke PCS CORSIA labels; publish transparency data.
Host Party /DNA	Authorize project participation; apply corresponding adjustments; maintain NDC reporting consistency.
PCS Regulatory Committee (RC)	Approve updates; interpret ambiguities; oversee program alignment with ICAO EUC and UNFCCC guidance.

3.8 Compliance and Enforcement

1. Adherence to this Standard is mandatory for all participants seeking CORSIA eligibility.

2. Non-compliance may result in suspension or withdrawal of the PCS CORSIA Eligibility Label, credit cancellation, or program sanctions under PCS governance procedures.

3.9 Outcome

1. Implementation of this chapter ensures that:

• PCS’s CORSIA framework operates within clearly defined material, temporal, and institutional boundaries;

• All participating entities understand their respective obligations; and

• PCS maintains global compatibility with ICAO EUC and UNFCCC Article 6 requirements.

Chapter 4 - CORSIA Approval Status and Eligibility Conditions

4.1 CORSIA Alignment and Recognition Status

1. The Planetary Carbon Standard (PCS) seeks alignment with the International Civil Aviation Organization (ICAO) for inclusion in the official CORSIA Eligible Emissions Units (EEU) list maintained by the ICAO Council under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).

2. PCS recognizes that only programs and units explicitly listed in the latest ICAO EEU publication are valid for use by aircraft operators to meet their offsetting obligations.

3. Upon formal recognition by ICAO, PCS shall issue a public CORSIA Eligibility Notice, confirming its inclusion and specifying:

• applicable vintages,

• activity scopes,

• Host-Party authorization requirements, and

• effective phase (First Phase 2024–2026 or subsequent).

1. Until such listing occurs, PCS operates in pre-recognition mode to allow early project registration, LoA collection, and corresponding-adjustment recording in preparation for immediate activation once ICAO recognition is granted.

2. PCS’s blockchain registry architecture is pre-configured to meet the ICAO Emissions Unit Eligibility Criteria (EUC 2021), ensuring traceability, transparency, and auditability consistent with Article 6 accounting principles.

4.2 Phased Implementation Framework

Phase	Duration	Participation	Status of PCS Eligibility	Key Requirements for Projects
Pilot Phase	2021 – 2023	Voluntary for early States	Closed for new PCS registrations. Historic projects may apply retroactively if their vintages are retained in the current ICAO EEU list.	Demonstrate CA records and LoA if seeking retroactive label.
First Phase	2024 – 2026	Voluntary for States meeting ICAO criteria	Primary operational window for PCS CORSIA Eligibility.	Host Party LoA with CA; MRV verified per PCS and ICAO EUC.
Second Phase (onward)	2027 – 2035	Mandatory for expanded State coverage	PCS to update Standard to reflect new EUC amendments and broader state participation.	Continuous alignment with Article 6 data exchange and ICAO registry interoperability.

4.3 Eligibility Conditions for PCS Projects

1

Program-Level Eligibility

PCS must maintain program-design integrity in accordance with ICAO EUC Sections I–III, covering:

• environmental integrity, MRV quality, and transparency;

• permanence and liability arrangements; and

• registry operation and public disclosure.

2

Project-Level Eligibility

Each project seeking the PCS CORSIA label shall:

• Be registered under PCS and assigned a unique Project Reference Number (PRN);

• Use an approved PCS methodology consistent with IPCC 2006 Guidelines and ICAO EUC quantification criteria;

• Hold a valid Host-Party Letter of Authorization (LoA) confirming intention to apply a Corresponding Adjustment;

• Have a verified Monitoring Report and Verification Report endorsed by a PCS-accredited VVB; and

• Comply with environmental and social safeguards defined in PCS Standards.

3

Host-Party Authorization and Corresponding Adjustments (CAs)

• The LoA shall explicitly state that mitigation outcomes are authorized for use under CORSIA and that the Host Party will apply a CA consistent with Article 6.2.

• The LoA must specify the accounting approach (Multi-Year Averaging or Emission Balance) and reference to national BTR submission.

• PCS verifies the LoA’s authenticity through cryptographic signatures and stores its hash on-chain.

• A CA entry recorded on the PCS Registry is a pre-condition for CORSIA label issuance.

4

Vintage Eligibility

• PCS shall only label credits whose vintages fall within the date ranges authorized in the most recent ICAO EEU document.

• At the time of this Standard’s adoption, vintages from 2021 onward may be considered eligible subject to ICAO confirmation.

• Any change in ICAO vintage rules will be automatically reflected in PCS eligibility filters via blockchain metadata updates.

5

Activity Type Eligibility

PCS permits all project types recognized under ICAO EUC and ICVCM principles, including renewable energy, energy efficiency, industrial process improvement, methane reduction, CCUS, and nature-based solutions. Activities involving high uncertainty or non-permanent storage may require buffer mechanisms or liability arrangements.

4.4 Registry and Blockchain Integration

1. Each CORSIA-eligible PCS Carbon Credit (PCC) is issued as a token on the PCS blockchain with metadata fields containing:

• Project ID and PRN;

• Host Party code and LoA reference;

• Vintage year and phase (First/Second);

• CA status (verified/pending);

• Verification Report ID and VVB signature; and

• unique transaction hash and timestamp.

1. The PCS Registry smart contracts ensure immutability of authorization and CA records and prevent issuance or transfer until eligibility conditions are met.

2. All CORSIA-labelled credits are publicly viewable through the PCS Registry Explorer, which displays aggregated issuance data, CA status, and Host Party confirmation.

3. PCS maintains Application Programming Interfaces (APIs) to allow ICAO and Host Parties to cross-verify project metadata and credit status in real time.

4.5 Verification and Validation Requirements

1. Only PCS-approved VVBs accredited to ISO 14065 and trained in ICAO EUC interpretation may conduct validation and verification for CORSIA projects.

2. VVBs shall include in each Verification Report:

• confirmation that LoA and CA documentation are complete and authentic;

• statement that monitoring and quantification methods are consistent with IPCC and ICAO EUC requirements; and

• a distinct section titled “CORSIA Eligibility Assessment.”

1. PCS Secretariat reviews each Verification Report and confirms blockchain metadata integrity before assigning the CORSIA label.

4.6 Transparency and Public Disclosure

1. All CORSIA-eligible projects and issuances are listed in the public PCS Registry with the following fields:

• Project name and location;

• Vintage range;

• Methodology applied;

• Host Party and LoA reference number;

• CA record ID; and

• status (issued, transferred, retired).

1. Annual summaries of CORSIA issuances and CAs are published in the PCS Integrity Report.

2. Data interoperability with the UNFCCC Article 6 Database and ICAO Registry ensures public transparency and consistency with global records.

4.7 Limitations and Disqualifications

1. Projects without Host Party authorization or recorded CA cannot receive the CORSIA label, regardless of MRV quality.

2. Credits derived from activities prohibited or excluded under the current ICAO EUC or EEU list shall be ineligible.

3. Units that have been retired or claimed for non-CORSIA purposes (e.g., corporate offsetting without CA) are ineligible for CORSIA transfer.

4. If ICAO subsequently amends its eligibility criteria and PCS units no longer comply, PCS shall either revoke or reclassify the CORSIA label accordingly.

4.8 Continuous Alignment and Governance

1. The PCS Regulatory Committee (RC) monitors ICAO Council decisions, EEU updates, and EUC revisions to ensure ongoing alignment.

2. The RC may issue Clarification Notes or Implementation Guidelines to address interpretation issues arising from new ICAO or UNFCCC decisions.

3. All changes are reflected in the PCS Version Register and communicated via official notifications to participants and Host Parties.

4.9 Outcome

1. Adherence to these eligibility conditions ensures that PCS:

• issues only units meeting current ICAO CORSIA criteria;

• guarantees blockchain-based traceability for LoA and CA verification;

• prevents double counting through smart-contract controls; and

• maintains continuous institutional alignment with ICAO, UNFCCC, and ICVCM integrity standards.

Chapter 5 - PCS CORSIA Project Cycle Process

5.1 Overview

1. The Planetary Carbon Standard (PCS) defines a transparent and traceable project-cycle process to ensure that all mitigation outcomes issued under PCS and designated for use within the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) meet the highest integrity standards.

2. The PCS CORSIA Project Cycle mirrors the established PCS framework but introduces additional verification, authorization, and registry controls consistent with the ICAO Emissions Unit Eligibility Criteria (EUC) and the UNFCCC Article 6 guidance.

3. The cycle comprises seven primary stages:

• Registration and Eligibility Screening

• Validation

• Verification

• Issuance

• CORSIA Labelling

• Transfer and Use

• Retirement and Reporting

1. Each stage is digitally anchored in the PCS Registry’s blockchain ledger, ensuring that all project actions are auditable, immutable, and publicly traceable.

5.2 Stage 1 - Registration and Eligibility Screening

1. Project Proponents (PPs) intending to supply credits for CORSIA must first register their activity in the PCS Portal and select the “CORSIA Pathway.”

2. During registration, the PP submits baseline and monitoring documentation, methodology reference, project design details, and an indication of intended credit use (CORSIA, voluntary, or hybrid).

3. The PCS Secretariat performs an eligibility screening that checks:

• whether the project falls within the activity scope recognized by the current ICAO EUC;

• whether the Host Party participates in Article 6 cooperative approaches and can issue Letters of Authorization (LoAs);

• alignment of project methodology with IPCC and ISO 14064 principles; and

• disclosure of any registration or issuance under other crediting programs.

1. Only projects that pass this screening are granted a Project Reference Number (PRN) and are published in the PCS Registry as “Registered – Pending Validation.”

5.3 Stage 2 - Validation

1. Validation is performed by an independent PCS-approved Validation & Verification Body (VVB) accredited under ISO 14065.

2. The VVB confirms that the project design document (PDD) conforms to approved PCS methodologies and ICAO EUC requirements.

3. Key tasks include:

• confirming baseline selection and quantification approach;

• assessing stakeholder consultation and safeguard compliance;

• verifying that the monitoring plan is complete and consistent with IPCC 2006 Guidelines;

• confirming disclosure of the intended CORSIA use and Host-Party engagement; and

• evaluating the likelihood of achieving additional, permanent, and measurable reductions.

1. Upon satisfactory validation, the VVB issues a Validation Report (PVR) digitally signed and uploaded to the PCS Registry, where its cryptographic hash becomes the permanent reference for the project record.

5.4 Stage 3 - Verification

1. After completion of the monitoring period, the PP submits a Project Monitoring Report (PMR) through the PCS Portal.

2. An accredited VVB conducts verification to ensure that emission-reduction or removal data are accurate, consistent, and free from duplication.

3. Verification activities include:

• on-site inspection or remote sensing verification (as applicable);

• cross-checking data against blockchain-stored monitoring records;

• recalculation of emission reductions following approved formulas;

• review of the Host Party LoA and proof of Corresponding Adjustment (CA) commitment; and

• confirmation that no part of the same mitigation outcome has been transferred or reported elsewhere.

1. The VVB then issues a Verification Report (VR) with an explicit annex titled “CORSIA Eligibility Assessment.”

2. The VR is time-stamped and recorded on-chain as proof of data integrity.

5.5 Stage 4 - Issuance

1. Upon acceptance of the VR, the PCS Secretariat executes a smart-contract issuance within the PCS Registry.

2. This contract generates PCS Carbon Credits (PCCs), each representing one metric tonne of CO₂ equivalent (t CO₂e) verified reduction or removal.

3. Each PCC is assigned:

• a Unique Serial Identifier (USI) including country code, project ID, vintage, and CA status;

• complete metadata (methodology, LoA reference, VVB ID, issuance hash); and

• blockchain verification by multiple validator nodes.

1. Issuance records are immutable; once confirmed, credits appear in the project account and the public registry.

5.6 Stage 5 - CORSIA Labelling

1. Before a credit can be used under CORSIA, the PCS Secretariat must confirm:

• existence and authenticity of the Host Party LoA;

• recorded and verified Corresponding Adjustment entry;

• compliance of vintage and activity type with the latest ICAO EEU publication; and

• completeness of MRV and safeguard documentation.

1. When all conditions are met, the Registry smart contract attaches the “PCS CORSIA Eligible” label to the PCC metadata.

2. This label contains phase (e.g., First Phase 2024-2026), Host Party code, CA entry hash, and issuance timestamp.

3. PCS publishes the labelled credit set through its Public Registry Explorer, providing transparency for airlines, brokers, and regulators.

4. If ICAO revises eligibility or additional CA verification is required, the label status can be updated through a controlled blockchain amendment, preserving the historical record.

5.7 Stage 6 - Transfer and Use

1. CORSIA-labelled credits may be transferred between verified PCS accounts through digitally signed transactions.

2. Smart-contract rules ensure that:

• only verified CORSIA credits can enter airline compliance accounts;

• each transfer updates ownership records while preserving full lineage; and

• credits cannot be double-transferred or reused once retired.

1. Airline operators or their authorized representatives can access real-time credit data via PCS’s CORSIA API, which aligns metadata with ICAO reporting templates for emissions-unit submission.

2. Cross-registry reconciliation is maintained using blockchain hash-matching between PCS, ICAO, and the Host Party’s Article 6 ledger.

5.8 Stage 7 - Retirement and Reporting

1. Retirement marks the permanent removal of a PCC from circulation and its final claim for CORSIA compliance.

2. When a credit is retired:

• the token is moved to the Retirement Ledger, a non-transferable blockchain address;

• ownership status changes to “Retired – CORSIA Use”; and

• a digital certificate is automatically issued to the retiring entity.

1. All retirement events are displayed publicly in the PCS Registry and aggregated in the annual PCS Integrity and Transparency Report.

2. The report provides issuance-to-retirement ratios, Host-Party CA summaries, and corresponding-adjustment confirmation statistics.

5.9 Integration with Host Party and ICAO Systems

1. The PCS Registry supports interoperability with:

• Host Party Article 6 Databases, providing real-time LoA and CA synchronization;

• the UNFCCC Article 6 Database, ensuring reporting consistency; and

• the ICAO CORSIA Registry, allowing direct verification of credit serial numbers and CA records used by aircraft operators.

1. This interoperability is achieved through encrypted APIs and the Open Climate Data Protocol (OCDP), guaranteeing that every transaction in PCS can be reconciled within national and international systems.

5.10 Roles and Responsibilities

Entity	Core Responsibilities within the CORSIA Project Cycle
Project Proponent (PP)	Prepare and submit documentation, obtain Host Party LoA, and ensure CA recording.
Validation & Verification Body (VVB)	Validate methodologies, verify MRV data, confirm eligibility and CA documentation.
PCS Secretariat	Operate registry, review submissions, issue PCCs, manage CORSIA labeling, and ensure transparency.
PCS Regulatory Committee (RC)	Oversee program compliance, approve updates, and ensure alignment with ICAO and UNFCCC guidance.
Host Party (DNA)	Issue LoA, apply and report CAs, and maintain consistency with national NDC accounting.
Market Participants / Airlines	Acquire, transfer, or retire PCS credits for CORSIA compliance in accordance with ICAO reporting procedures.

5.11 Outcome

1. The PCS CORSIA Project Cycle establishes a single, verifiable chain of custody from project registration to credit retirement.

2. Each procedural step—validation, verification, issuance, labeling, transfer, and retirement—is transparently recorded on-chain, ensuring that every PCS CORSIA Eligible Credit is unique, host-authorized, and fully traceable under Article 6 and ICAO CORSIA frameworks.

Chapter 6 - PCS CORSIA Requirements (Phase 2024 – 2026 and Beyond)

6.1 Overview

1. The first formal phase of CORSIA (2024 – 2026) represents the initial operating period during which States voluntarily participate under ICAO Resolution A40-19.

2. For this phase, the Planetary Carbon Standard (PCS) establishes a unified set of technical and procedural requirements ensuring that all credits issued with the PCS CORSIA Eligible label meet or exceed the ICAO Emissions Unit Eligibility Criteria (EUC, 2021).

3. PCS applies the same principles prospectively to the second, mandatory phase (2027–2035), guaranteeing continuity of integrity and interoperability.

6.2 General Program Requirements

1. PCS shall maintain the following attributes across all CORSIA-related activities:

• Environmental Integrity – Quantified emission reductions or removals must be real, additional, permanent, and verified by accredited third parties.

• Transparency & Traceability – All issuance, transfer, and retirement data are visible through the public PCS Registry Explorer.

• Host-Party Authorization & CA Application – Each issuance designated for CORSIA must have a valid Host Party Letter of Authorization (LoA) and a recorded Corresponding Adjustment (CA).

• Governance and Accountability – Oversight is exercised by the PCS Regulatory Committee (RC) and PCS Steering Committee (SC), ensuring compliance with ICAO EUC and UNFCCC Article 6 rules.

• Blockchain Integrity – All registry operations are executed via permissioned smart-contracts that guarantee immutability, data security, and audit transparency.

6.3 Requirements for Project Proponents (PPs)

1. Project Proponents are responsible for initiating and maintaining compliance with all PCS CORSIA obligations.

1

Documentation and Disclosure

PPs must declare at registration whether mitigation outcomes are intended for CORSIA, voluntary use, or both.

For CORSIA projects, the following documentation is required:

• Project Design Document (PDD) with methodology reference;

• Host Party LoA confirming participation under Article 6 and CORSIA;

• Monitoring Plan consistent with IPCC Guidelines (2006/2019);

• Environmental and Social Safeguard Assessment; and

• Statement of no multiple registration or issuance.

2

Host Party Authorization

The LoA must:

• identify project title, location, and unique PRN;

• state authorization for international transfer or use under CORSIA;

• specify CA accounting method (Multi-Year Averaging or Emission Balance); and

• carry official signature or digital seal of the Designated National Authority (DNA).

3

Ongoing Obligations

PPs must update the PCS Portal whenever:

• project ownership changes;

• methodology or boundary revisions occur; or

• Host Party policy affecting authorization changes.

Failure to maintain accurate records may result in suspension of the CORSIA label.

6.4 Requirements for Validation & Verification Bodies (VVBs)

1. VVBs provide independent assurance that project data and processes conform to PCS and ICAO criteria.

2. Accreditation and Competence

• Must be accredited to ISO 14065 and approved under the PCS VVB Procedure.

• Must demonstrate sectoral experience relevant to the project type.

• Personnel shall be trained in Article 6 and CORSIA EUC interpretation.

1. Validation Responsibilities

• Confirm project eligibility under the current ICAO EEU list.

• Review baseline and monitoring plans for quantification consistency.

• Assess additionality, leakage, and permanence controls.

• Verify Host Party engagement and LoA existence.

1. Verification Responsibilities

• Re-calculate emission reductions/removals and cross-check data with blockchain records.

• Verify that monitoring data and parameters are consistent with approved methodology.

• Confirm that CA entries and LoAs are authentic and match the reported volumes.

• Document all results in the Verification Report (VR) with a dedicated CORSIA Eligibility Assessment section.

1. Reporting and Archiving

The VR and all supporting datasets must be uploaded to the PCS Portal and hash-stored on-chain for future audits.

6.5 Requirements for the PCS Secretariat

1. The PCS Secretariat manages program operations, registry governance, and label issuance.

2. Operational Integrity

• Ensure all PCCs issued for CORSIA are uniquely identified and linked to verified CA records.

• Maintain digital interfaces for ICAO and Host Party data exchange.

• Implement smart-contract functions that block issuance without LoA validation.

1. Registry Oversight

• Conduct continuous cross-checks between PCS blockchain data and Host Party Article 6 records.

• Publish aggregated statistics on CORSIA issuances, CA volumes, and retirements in the annual PCS Integrity Report.

• Manage security and data protection in line with ISO/IEC 27001.

1. Labelling Procedure

• Assign the PCS CORSIA Eligible label only after completing full LoA and CA verification.

• Use metadata tags including Host Party code, vintage, phase, and issuance date.

• Update or revoke labels immediately if ICAO criteria change.

6.6 Requirements for Host Parties

1. Host Parties play a central role in ensuring alignment between national NDC accounting and CORSIA use.

2. Authorization and Corresponding Adjustments

• Issue LoAs for projects approved under Article 6 cooperative approaches.

• Apply CAs to avoid double counting of authorized mitigation outcomes.

• Report applied CAs in Biennial Transparency Reports (BTRs) under the Enhanced Transparency Framework (ETF).

1. Data Exchange

• Collaborate with PCS to enable secure interoperability between national databases and the PCS Registry.

• Verify that CA records on the PCS ledger match national Article 6 submissions.

1. Notification Obligations

Inform PCS promptly of any policy changes affecting authorization status or CA methodology.

6.7 Requirements for Airline Operators and Market Participants

1. Airline operators and market intermediaries must conduct due diligence to ensure PCS credits used for CORSIA compliance are authentic and appropriately retired.

• Verify credit authenticity through the PCS Registry Explorer or API before acquisition.

• Disclose credit serial numbers, projects, and retirement dates in annual CORSIA emissions reports.

• Use PCS CORSIA-labelled credits only for international aviation offsetting purposes.

• Retire credits on the PCS blockchain and record use as Retired – CORSIA Compliance.

6.8 Requirements for PCS Regulatory and Steering Committees

• Review ICAO EUC and EEU updates to ensure PCS alignment.

• Approve any amendments to CORSIA labelling rules or registry protocols.

• Resolve appeals and disputes related to CORSIA eligibility or label withdrawal.

• Oversee independent audits and publish findings in the PCS Governance Bulletin.

6.9 Interoperability and Data Exchange Requirements

• Implement secure API connections with ICAO and Host Party registries to enable real-time CA verification.

• Follow the Open Climate Data Protocol (OCDP) for metadata and transaction standards.

• Utilize blockchain smart-contracts to automate data synchronization and prevent record discrepancies.

• Maintain digital signatures and encryption consistent with W3C Verifiable Credentials for KYC participants.

6.10 Future Phase Readiness (2027 – 2035)

1. PCS will adapt this Standard to reflect future CORSIA phases and expanded state participation.

2. Key enhancements will include:

• Integration with UNFCCC Article 6.4 Mechanism registries once operational;

• Broader recognition of new methodologies and technologies (Direct Air Capture, BECCS, Synthetic Fuels);

• Updated vintage windows and eligibility criteria per future ICAO EEU publications; and

• Enhanced AI-driven monitoring and risk detection in the PCS Registry.

6.11 Outcome

1. Through the implementation of these requirements, PCS ensures that all CORSIA-eligible credits are:

• verified under internationally accepted methodologies;

• authorized and adjusted by Host Parties under Article 6;

• managed through secure blockchain smart-contracts; and

• fully recognized as compliant with the ICAO CORSIA EUC for use in the 2024 – 2026 phase and beyond.

Chapter 7 - Verification of Corresponding Adjustments and Host Authorizations

7.1 Purpose

1. This chapter sets the mandatory verification framework for confirming Host-Party authorization of PCS projects and application of corresponding adjustments (CAs) for mitigation outcomes used under CORSIA.

2. The process ensures that no PCS Carbon Credit (PCC) is labelled CORSIA Eligible without verifiable Host-Party consent and proof of CA accounting, both of which are immutably recorded on the PCS blockchain registry.

7.2 Principles

• Legitimacy & Authority – Only a valid LoA issued by the Host Party’s Designated National Authority (DNA) under Article 6 is acceptable evidence of authorization.

• Verification & Traceability – Every LoA and CA entry must be independently verified by a PCS-approved VVB and permanently linked to the project’s blockchain record.

• Transparency – Authorization and adjustment information must be publicly viewable via the PCS Registry Explorer, except where restricted by national confidentiality rules.

• Interoperability – PCS maintains API-level data exchange with Host Party Article 6 databases and the UNFCCC Article 6 Information Hub to ensure consistent accounting.

7.3 Letter of Authorization (LoA)

1. Submission & Content

Project Proponents (PPs) must upload a digitally signed LoA through the PCS Portal before issuance.

The LoA must include:

• project title, location, and unique PCS Project Reference Number (PRN);

• total authorized quantity of mitigation outcomes;

• statement of authorization for use under CORSIA;

• accounting method (Multi-Year Averaging or Emission-Balance);

• reference to Host Party Article 6 policy or bilateral agreement; and

• official signature or cryptographic seal of the DNA.

1. Authenticity Verification

PCS validates LoA authenticity through:

• cross-check of issuer credentials against Host Party public registry or diplomatic channel;

• cryptographic signature verification on-chain; and

• confirmation by the Host Party node (where national node connectivity exists).

Verified LoAs are assigned a LoA Hash ID and stored immutably within the project’s blockchain metadata.

7.4 Corresponding Adjustment (CA)

1. Definition and Requirement

• A CA is the quantitative adjustment applied by the Host Party to its national inventory or NDC accounting to reflect transfer of mitigation outcomes for international use.

• For CORSIA, every credit labelled PCS CORSIA Eligible must have a corresponding CA recorded and verifiable.

1. CA Documentation Elements

Each CA record shall specify:

• Host Party name and UNFCCC Party code;

• accounting approach (MYA or EBA);

• applicable vintage years and volumes adjusted;

• reference to LoA Hash ID;

• date of adjustment and DNA signature; and

• link to Host Party BTR or NDC submission identifier (if available).

1. Validation & Recording Procedure

• The PP uploads CA documentation (e.g., government confirmation letter or registry export) to the PCS Portal.

• The PCS Secretariat verifies the document’s completeness and digital signatures.

• A smart-contract creates a CA Entry Block containing metadata linked to the project token set.

• The VVB cross-checks the CA Entry Block against Host Party records and confirms its accuracy in the Verification Report.

Once validated, the CA Entry status changes to “Confirmed,” allowing issuance of PCS CORSIA Eligible credits.

7.5 Blockchain Recording and Traceability

1. All LoA and CA records are stored on-chain as immutable transactions. Each record includes:

• transaction hash and timestamp;

• smart-contract address and block height;

• link to project and credit metadata; and

• digital signatures from PCS Secretariat and DNA verifiers.

1. PCS smart contracts prevent:

• issuance of CORSIA labels without valid CA confirmation;

• editing or deletion of recorded entries; and

• duplicate CA entries for the same volume.

1. Every record can be viewed through the PCS Registry Explorer or queried via API for third-party verification by ICAO or Host Parties.

7.6 Role of Validation & Verification Bodies (VVBs)

1. VVBs must examine both LoA and CA documentation during validation and verification. Their responsibilities include:

• confirming that the LoA originates from the competent authority;

• verifying consistency between CA volumes and the verified emission reductions;

• ensuring that the CA method (MYA/EBA) matches the Host Party declaration; and

• documenting all findings in the Verification Report’s CA Verification Annex.

1. VVBs must retain copies of validated LoAs and CA records for no less than ten years and make them available for audit by PCS or ICAO.

7.7 Role of Host Parties

1. Host Parties must:

• issue LoAs following Article 6 guidance and maintain a national registry of authorized projects;

• apply CAs and report them through Biennial Transparency Reports (BTRs);

• exchange data with PCS via secure API or digital ledger interface; and

• respond to PCS requests for verification of LoA or CA records.

1. Where a Host Party has its own blockchain node or registry connection, PCS synchronizes entries to create a dual-record system that prevents divergence between national and program data.

7.8 Audit and Quality Assurance

1. PCS conducts annual audits of LoA and CA records to confirm data integrity. Audits cover:

• cross-checking CA entries against Host Party BTRs and NDC reports;

• reconciliation of LoA and issuance volumes; and

• validation of cryptographic signatures and ledger integrity.

1. Results are summarized in the PCS Registry Integrity Report and shared with ICAO and UNFCCC Secretariats as evidence of compliance with Article 6 and CORSIA requirements.

7.9 Non-Compliance and Remediation

1. If a LoA or CA record is found to be invalid, incomplete, or inconsistent:

• the associated credits are immediately frozen on-chain;

• PCS initiates a Compliance Case File (CCF) in accordance with PCS Non-Compliance Procedures; and

• Host Party and VVB are notified for clarification or correction.

1. Confirmed invalid records result in credit label revocation and public disclosure in the PCS Registry.

7.10 Outcome

1. This framework ensures that each PCS CORSIA Eligible credit is backed by verifiable Host-Party authorization and a corresponding adjustment record recognized under the Paris Agreement.

2. Blockchain integration eliminates manual errors and guarantees a tamper-proof audit trail linking national accounting systems with international aviation offset use, upholding PCS’s integrity as a globally aligned Article 6 standard.

Chapter 8 - Monitoring, Reporting & Transparency

8.1 Purpose

1. The purpose of this chapter is to establish the Monitoring, Reporting and Transparency (MRT) requirements that govern CORSIA-eligible projects under the Planetary Carbon Standard (PCS).

2. It ensures that all data, verification results, and credit transactions supporting CORSIA compliance are measurable, reportable, verifiable, and publicly accessible, consistent with the Enhanced Transparency Framework (ETF) of the Paris Agreement and ICAO’s Emissions Unit Eligibility Criteria (EUC).

3. PCS applies blockchain-based digital monitoring and registry disclosure systems to provide continuous traceability, minimize data discrepancies, and facilitate global interoperability.

8.2 Scope

1. MRT requirements apply to all PCS projects seeking or holding a PCS CORSIA Eligible label.

2. They cover data collection, monitoring methodology, preparation of Project Monitoring Reports (PMRs), verification of monitoring information, publication of results, and registry-level transparency.

8.3 Monitoring Requirements

1

Monitoring Plan

Each project shall maintain an approved Monitoring Plan consistent with its methodology, identifying parameters, instruments, sampling frequency, and QA/QC procedures.

The plan must follow IPCC 2006 Guidelines and ISO 14064-2 §7 provisions.

2

Data Recording and Blockchain Integration

All primary monitoring data shall be digitally logged through the PCS Portal and immediately hashed on the PCS blockchain.

Each monitoring entry forms a Monitoring Record Block containing: parameter ID, timestamp, value, measurement device, and signature of the responsible operator.

The ledgered hashes serve as immutable references for later verification.

3

Technology-Enabled Monitoring

PCS encourages integration of IoT sensors, satellite imagery, and automated data pipelines to improve accuracy. Where automated collection is used, calibration certificates and verification algorithms must be included in the PMR.

4

Quality Assurance / Quality Control (QA/QC)

Project Proponents (PPs) shall implement QA/QC systems ensuring data completeness, calibration of instruments, and error-tracking. All QA/QC records shall be retained for at least 10 years.

8.4 Reporting Requirements

1. Project Monitoring Report (PMR)

• After each monitoring period, the PP shall prepare a PMR summarizing measured activity data, emission factors, calculations, and QA/QC procedures.

• The PMR shall reference blockchain Monitoring Record Block IDs to link source data with reported totals.

• The PMR is digitally signed and submitted through the PCS Portal.

1. Verification Report (VR)

• The accredited VVB reviews the PMR and issues a VR containing:

  • verified emission-reduction totals;

  • cross-check results against on-chain hashes;

  • conclusions on completeness and accuracy; and

  • a specific section titled “CORSIA Eligibility and CA Verification.”

• The VR is timestamped and its hash stored in the PCS Registry.

1. Data Versioning and Archiving

All PMRs and VRs are version-controlled and permanently archived within the PCS Registry. Earlier versions remain accessible for audit and reconciliation with Host Party records.

8.5 Transparency and Disclosure

1. Public Registry Access

PCS maintains a Public Registry Explorer displaying project summaries, methodologies, Host Parties, vintages, verification status, and CORSIA label indicators.

For privacy reasons, financial data and proprietary technology information may be redacted.

1. Disclosure of Host Party Authorizations and CAs

LoA IDs and CA hash references shall be visible on the registry for every CORSIA-labelled issuance.

Aggregated statistics of applied CAs by Host Party are published annually.

1. Annual Integrity and Transparency Report (AITR)

PCS issues an AITR each year summarizing:

• total credits issued, transferred, and retired under CORSIA;

• number of Host Parties providing CAs;

• audit results from MRV and blockchain integrity checks; and

• any corrective actions taken.

The AITR is publicly available through the PCS Portal.

1. Stakeholder Access and Consultation

PCS maintains open communication channels allowing stakeholders, including airlines, Host Parties, and civil-society observers, to review registry data and submit feedback on transparency performance.

8.6 Verification of Transparency Data

1. The PCS Secretariat performs quarterly data-consistency checks between PMR/VR records, on-chain monitoring hashes, and Host Party submissions.

2. Independent auditors may be appointed by the PCS Regulatory Committee to confirm that public information reflects accurate on-chain data.

3. Any inconsistencies identified are logged in the PCS Transparency Correction Register and resolved within 30 days.

8.7 Interoperability and Reporting Interfaces

1. UNFCCC Article 6 Database – PCS shares CA and project metadata via API to support Host Party Biennial Transparency Reports (BTRs).

2. ICAO CORSIA Registry – PCS provides airline operators with serial-number verification services and direct API links for compliance submissions.

3. World Bank Climate Warehouse – PCS follows open-data standards (OCDP 2023) to maintain cross-registry comparability.

4. National Registries – PCS enables Host Party read-only dashboard access for reconciliation of PCS CORSIA projects with national Article 6 inventories.

8.8 Confidentiality and Data Protection

1. PCS complies with applicable data-protection laws and international cybersecurity standards (ISO/IEC 27001:2022).

2. Sensitive project data are encrypted at rest and in transit.

3. Access rights within the PCS Registry are governed by role-based permissions approved by the PCS Secretariat.

8.9 Audit and Quality Assurance

1. Annual independent audits verify that monitoring and reporting processes conform to PCS and ICAO EUC requirements.

2. Audit results are reviewed by the PCS Regulatory Committee and summarized in the AITR.

3. Identified deficiencies trigger corrective-action plans monitored until closure.

8.10 Outcome

1. Implementation of these MRT provisions ensures that:

• every CORSIA-eligible PCS credit is backed by verified, blockchain-anchored MRV data;

• Host Party, ICAO, and UNFCCC stakeholders can access transparent, consistent information; and

• PCS maintains continuous compliance with the global transparency architecture envisioned under Article 6 and CORSIA.

Chapter 9 - References and Legal Basis

9.1 Purpose

1. This chapter identifies the legal, regulatory, and technical authorities upon which this Standard is based.

2. It ensures that the Planetary Carbon Standard (PCS) remains aligned with globally recognized rules governing aviation offsetting, carbon accounting, and environmental-integrity verification.

9.2 Primary Legal Instruments

Instrument	Reference / Citation	Relevance to PCS CORSIA Eligibility
Paris Agreement (2015)	Articles 4 & 6	Establishes cooperative approaches and avoidance of double counting; provides the legal basis for corresponding adjustments (CAs).
UNFCCC CMA Decision 2/CMA.3	Guidance on cooperative approaches referred to in Article 6.2	Defines accounting and reporting rules for ITMOs used under CORSIA.
UNFCCC CMA Decision 3/CMA.3	Rules, modalities and procedures for the Article 6.4 mechanism	Sets MRV and authorization standards relevant to CORSIA alignment.
ICAO Assembly Resolution A40-19	Consolidated statement on CORSIA implementation	Establishes CORSIA phases, scope, and offset requirements for international aviation.
ICAO Emissions Unit Eligibility Criteria (EUC 2021)	Council Decision C-DEC 221/5 (2021)	Defines criteria that programs such as PCS must meet for unit acceptance.
CORSIA Eligible Emissions Units (EEU) List	ICAO, latest revision (October 2024 or later)	Specifies eligible programs, vintages, and activity scopes for each phase.

9.3 Technical and Methodological References

Source	Publication	Application within PCS
IPCC	2006 Guidelines for National GHG Inventories & 2019 Refinement	Basis for baseline setting, emission-factor selection, and MRV consistency.
ISO 14064-1 / -2 / -3 / 14065 Series	GHG accounting, project quantification, verification, and accreditation standards	Core framework for PCS validation & verification processes.
ICVCM Core Carbon Principles (2023)	Principles 1–10	Benchmarks for environmental integrity, governance, transparency, and avoidance of double counting.
ICAO CORSIA MRV Requirements for Aircraft Operators (2021)	Environmental Protection Volume IV – Annex 16	Ensures compatibility of PCS credit data with airline reporting templates.
World Bank Climate Warehouse / Open Climate Data Protocol (OCDP 2023)	Open-data specification	Provides interoperability standards for cross-registry synchronization.
W3C Verifiable Credentials (2022)	Identity & data-authentication standard	Supports PCS Know-Your-Customer (KYC) and digital-signature verification in the Registry.

9.4 Blockchain and Cyber-Governance References

Standard / Framework	Title	PCS Application
ISO/IEC 27001 : 2022	Information Security Management Systems	Guides PCS cybersecurity and registry protection.
ISO 22301 : 2019	Business Continuity Management	Ensures operational resilience of PCS validator nodes.
Climate Ledger Initiative (2023)	Digital Climate Market Principles	Supports interoperability and climate-data transparency across registries.

9.5 Institutional Linkages

1. UNFCCC – PCS aligns its Article 6 authorization, reporting, and CA verification procedures with UNFCCC Secretariat guidance and Host-Party reporting requirements.

2. ICAO – PCS seeks and maintains inclusion in ICAO’s CORSIA Eligible Emissions Units list and ensures registry interoperability for airline verification.

3. ICVCM – PCS applies the Core Carbon Principles as quality benchmarks for high-integrity crediting.

4. IPCC – PCS adopts methodological consistency with IPCC emission-quantification standards.

5. ISO – PCS VVB accreditation and assurance activities are based on ISO 14065 and ISO 14064-3 frameworks.

9.6 Relationship to Other PCS Standards

1. This Standard shall be read in conjunction with:

• PCS-Standard-001 – Avoidance of Double Counting and Corresponding Adjustments;

• PCS-Standard-004 – Validation & Verification Standard;

• PCS Registry and Digital Infrastructure Protocol; and

• PCS Safeguards & SDG Integrity Standard.

1. In the event of overlap or inconsistency, the rule that best ensures compliance with ICAO and UNFCCC Article 6 guidance shall prevail.

9.7 Version Control and Amendments

1. The PCS Regulatory Committee (RC) maintains a Version Register detailing the issue date, effective date, and summary of revisions for this Standard.

2. Updates occur whenever:

• ICAO publishes new or amended EUC / EEU documents;

• UNFCCC modifies Article 6 accounting guidance; or

• technical improvements are introduced to the PCS Registry.

1. Each new version supersedes previous editions for future issuances while preserving prior versions for archival and audit reference.

9.8 Legal Status and Enforcement

1. Compliance with this Standard is mandatory for all PCS projects, Validation & Verification Bodies, and registry participants seeking or holding CORSIA-eligible status.

2. PCS reserves authority to suspend or revoke CORSIA labels in cases of non-compliance, misrepresentation, or invalid authorization.

3. All enforcement actions are subject to review and appeal in accordance with the PCS Governance & Appeals Procedure.

9.9 Continuing Alignment

1. PCS commits to continuous alignment with evolving ICAO and UNFCCC guidance.

2. The PCS Secretariat and Regulatory Committee jointly review external updates semi-annually and issue clarification notes as required.

3. PCS actively participates in international working groups on digital MRV and registry interoperability to ensure sustained global compatibility.

9.10 Outcome

1. By grounding PCS-Standard-002 in these authoritative instruments, PCS ensures that:

• its governance and registry operations meet the technical and legal thresholds for CORSIA recognition;

• issued units remain verifiable within both ICAO and UNFCCC frameworks; and

• the program continuously upholds transparency, environmental integrity, and interoperability as core values of the Planetary Carbon Standard 2.0 system.