Sustainable aviation fuel production is projected to triple this year, but this still only represents a small fraction – 0.5% – of the aviation industry’s fuel needs. In order to achieve the goal of net-zero emissions by 2050, production would need to increase by a thousand-fold. IATA’s chief economist, Marie Owens Thomsen, emphasized the magnitude of this challenge at the trade group’s annual general meeting in Dubai.
Despite the daunting task ahead, Thomsen remains optimistic that the industry can rise to the occasion. Drawing parallels to the rapid growth of wind and solar energy in recent years, she emphasized that with approximately $150 billion in annual investment, the goal of expanded sustainable aviation fuel production is within reach. Thomsen highlighted that the world has successfully tackled similar challenges in the past, giving hope for the future of aviation sustainability.
According to IATA, sustainable aviation fuel is expected to account for 65% of the carbon reductions necessary for the industry to achieve net-zero emissions. This underlines the critical role that SAF will play in the aviation sector’s environmental goals. The International Civil Aviation Organization (ICAO) has set a target of reducing aviation emissions by 5% globally by 2030, further underscoring the importance of ramping up production of sustainable aviation fuel.
IATA has called on governments to play a more active role in incentivizing sustainable aviation fuel production. Policy measures that encourage the shift of renewable-fuel facilities towards aviation fuel production could help accelerate progress towards sustainability goals. With the shift towards electric vehicles in other sectors, it becomes even more crucial for governments to support and promote the development of sustainable aviation fuel.
The journey towards sustainable aviation fuel production faces significant challenges, but with the right investments and government support, the industry can make significant strides towards achieving net-zero emissions by 2050. The growth of sustainable aviation fuel is not just a goal for the aviation industry, but a crucial step in combating climate change and ensuring a more sustainable future for air travel.
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