The International Air Transport Association (IATA)’s has released the updated Policy and Finance Net Zero Roadmaps. IATA’s Director General, Willie Walsh says “The updated IATA Policy and Finance Net Zero Roadmaps make it clear that decarbonization by 2050 is possible. They also sound a warning bell that, to achieve this, all stakeholders, particularly policymakers, must collaborate more broadly and act with greater urgency. To be successful, we need clear policy and financial frameworks that will support air transportation’s needs in a way that is realistic and coherent with the massive changes that must take place simultaneously in all economic sectors”.
According to IATA, the Policy Roadmap “emphasizes the importance of strategic policy sequencing and addresses the need for global collaboration” and its recommendations “recognize that there is no one-size-fits-all solution, and policies must ensure that all countries can participate in the future global Sustainable Aviation Fuel (SAF) market.”
It calls for immediate action “to unlock the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) Eligible Emissions Units (EEUs) and prioritizing SAF in the product mix at refineries”
The Finance Roadmap according to IATA offers a detailed view of the required investments to reach net zero CO2 emissions by 2050, and the costs involved to airlines in procuring the new solutions. Identifying the number of new biorefineries that need to be built and highlighting that their product output will benefit all industries’ energy transition, should help focus minds and promote the unity of purpose among policymakers that is necessary for a successful transition.
“The costs and challenges associated with the energy transition are large, but the opportunities are even greater”, said Marie Owens Thomsen, IATA’s Senior Vice President Sustainability and Chief Economist. Thomsen noted that “To 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”.