{"id":81357,"date":"2024-10-01T00:00:00","date_gmt":"2024-10-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/01\/net-zero-in-the-aviation-industry-is-possible-by-2050-iata-says\/"},"modified":"2024-10-01T00:00:00","modified_gmt":"2024-10-01T00:00:00","slug":"net-zero-in-the-aviation-industry-is-possible-by-2050-iata-says","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/01\/net-zero-in-the-aviation-industry-is-possible-by-2050-iata-says\/","title":{"rendered":"Net zero in the aviation industry is possible by 2050, IATA says"},"content":{"rendered":"

<\/strong>Achieving net zero is possible in the <\/strong>aviation industry by 2050<\/strong>, the International Air Transport Association (IATA) says in its updated policy and finance net zero roadmaps for the global aviation sector, according to reports (here<\/a>) and (here<\/a>). The updated roadmaps indicate that decarbonization by 2050 is possible through collaboration from stakeholders and policymakers as well as clear policy and financial frameworks in line with the needs of air transportation.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

But let\u2019s back it up a bit: <\/strong>The IATA disclosed a series of \u201cstep-by-step\u201d roadmaps back in July 2023<\/a> for the industry to achieve net zero carbon emissions by 2050, with recommendations covering tech, energy, infrastructure, operations, finance, and policy. The shift toward sustainability in the air transportation industry is part of the Paris Agreement.<\/p>\n

A call to action: <\/strong>\u201cI must emphasize that the roadmaps are not just for airlines. Governments, suppliers, and financiers cannot be spectators in aviation\u2019s decarbonization journey. They have skin in the game. The roadmaps are a call to action for all aviation's stakeholders to deliver the tools needed to make this fundamental transformation of aviation a success with policies and products fit for a net-zero world,\u201d IATA Director General Willie Walsh said<\/a>.<\/p>\n

SOUND SMART- What is a policy roadmap? <\/strong>A policy roadmap is a strategic framework that outlines goals and recommendations for implementing specific policies in a specific area to complete strategies, according to a report (pdf)<\/a>. The roadmap provides a baseline for policy development and helps identify gaps<\/a> in existing policies.<\/p>\n

The roadmap: <\/strong>Although the recommendations recognize that there isn\u2019t a one-size-fits-all solution for policy sequencing, they state that all countries should engage in the future global Sustainable Aviation Fuel (SAF) market. The policy roadmap outlined immediate (until end 2025), mid-term (2026-2030), and long-term (2031-2050) objectives that lay out the order in which to target the goals and objectives. <\/p>\n

Some takeaways: <\/strong>The roadmap highlighted the urgent need for immediate action to integrate the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA<\/a>) Eligible Emissions Units (EEUs) \u2014 a mechanism that aims to reduce emissions from international aviation above a standard reference level. The policies also stressed the importance of prioritizing SAF in the product mix at refineries. The introduction of new tech \u2014 especially in research and development \u2014 is deemed necessary.<\/p>\n

Gov\u2019t action is needed: <\/strong>Collaboration between governments, the aviation industry, and other sectors is important for streamlining investments and removing barriers to adopting new tech, SAF, and infrastructure. The report states that the creation of a global SAF accounting framework is necessary to ensure transparency and accountability. <\/p>\n

How far along are we? <\/strong>Malaysian airline AirAsia inked an MoU with Airbus to explore the production and expand the use of SAF<\/a> in the Association of Southeast Asian Nations (ASEAN) region. The UAE\u2019s renewables giant Masdar and French oil major TotalEnergies signed an agreement back in August<\/a> to explore the feasibility of using captured CO2 to produce sustainable aviation fuel (SAF) and green methanol. The UAE has been looking to position itself as a regional hub for SAF<\/a> with aims to produce 700 mn liters of SAF annually by 2030.<\/p>\n

We\u2019re on the way: <\/strong>SAF production in 2024 is set to hit 1.9 mn liters, representing 0.53% of the aviation sector\u2019s fuel requirement and on track for tripling target<\/a>. \u201cSAF will provide about 65% of the mitigation needed for airlines to achieve net zero carbon emissions by 2050. So the expected tripling of SAF production in 2024 from 2023 is encouraging. We still have a long way to go, but the direction of exponential increases is starting to come into focus,\u201d IATA Director General Willie Walsh said.<\/p>\n

As for the money aspect: <\/strong>In order to be net zero by 2050, the annual capital expenditure (capex) needed to build new facilities over the 30-year period is about USD 128 bn per year. The road to this can be facilitated if governments redirect their subsidies away from fossil fuels and toward renewable energy production, one of which is SAF. <\/p>\n

Time is of the essence: <\/strong>The cost of procuring SAF, hydrogen, and other key levels is valued at USD 1.4 bn in 2025, but the transition could go as high as USD 744 bn in 2050 \u2014 indicating the need for speed and scale in bringing solutions to market in a bid to achieve the net zero CO2 emissions. <\/p>\n

There\u2019s hope: <\/strong>\u201cTo realize the opportunities, we need all minds to unite in this mission, and all policymakers, multilateral organizations, investors, solution providers, and the air transport industry to work together. Such transformative collaboration can pool resources and target meaningful action for greater impact. This is what is needed to deliver a sustainable air transport industry by 2050,\u201d IATA\u2019s Senior Vice President Marie Owens Thomsen said<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

The aviation industry\u2019s transition to renewable energy is achievable by 2050<\/p>\n","protected":false},"author":1,"featured_media":81358,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[255],"tags":[145,381,254],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-macro-picture","tag-aviation","tag-saf","tag-the-macro-picture","wpautop","entry"],"acf":{"mongo_id":"3d1546e1-0d8e-4c49-9803-63e27293c896","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1498.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Net zero in the aviation industry is possible by 2050, IATA says","related_issue":[81346],"teaser":"The aviation industry\u2019s transition to renewable energy is achievable by 2050","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.d4181f46-6a4d-40b4-8996-dae39521c57b.mp3"},"yoast_head":"\nNet zero in the aviation industry is possible by 2050, IATA says - 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