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After the failure of the EU to include international aviation into its own carbon market, the ICAO adopted the CORSIA offset mechanism. This instrument of international public action, combining the market and a binding inter-governmental framework, is the product both of political processes in the specialized international arena that is ICAO, and of organized action by representatives of the aviation industries. In contrast to a reductionist reading in terms of the domination of neo-liberal ideology, our sociological and empirical approach sheds light on the multiple meanings that the market instrument has been invested with, together with the conflicts and the political compromise that ultimately instituted it. This does not mean, however, that CORSIA is evidence that the climatization of the aviation sector is complete.