Offsets will play a role in compliance with the global CORSIA scheme and ultimately achieving net-zero by 2050.
For Delta to reach net-zero, out-of-sector solutions will likely complement fleet, SAF, operational initiatives and other in-sector technology improvements. Removal projects that absorb incremental and additional CO2 from the atmosphere, such as afforestation and reforestation, or technology, such as direct air capture and carbon sequestration, will be necessary.
While our primary focus is on decarbonizing aviation and reaching net-zero by 2050, we have also supported out-of-sector solutions for many years by purchasing carbon offsets. Deforestation needs to be halted by 2030 to achieve global climate goals. To further these goals, we continue to support the LEAF (Lowering Emissions by Accelerating Forest Finance) Coalition. This public-private coalition seeks to facilitate significant reductions in GHG emissions by financing large-scale tropical forest protection through a jurisdictional approach. LEAF works with national and subnational governments to ensure that all key stakeholders, including Indigenous Peoples, participate fully and receive a fair share of the benefits.
In 2022, we purchased and retired $116 million of carbon offsets which relate to a portion of our airline segment's 2021 and first quarter 2022 carbon emissions.1 We expect much of the remaining investment to support our goal to spend $1 billion through the end of 2030 toward airline decarbonization focusing on solutions other than offsets.
1 In 2022 and Q1 2023, Delta purchased and retired offsets to cover flights flown and tickets purchased through March 31, 2022.