Home Business News Business aviation industry commits to net-zero carbon emissions by 2050 By Reuters

Business aviation industry commits to net-zero carbon emissions by 2050 By Reuters

Business aviation industry commits to net-zero carbon emissions by 2050 By Reuters


© Reuters. FILE PHOTO: Business jets are seen at the National Business Aviation Association (NBAA) exhibition in Las Vegas, Nevada, U.S. October 21, 2019. REUTERS/David Becker

By Allison Lampert

Las Vegas (Reuters) – The National Business Aviation Association (NBAA) and other industry groups on Tuesday committed to “net zero” carbon emissions by 2050, as the sector’s flagship private jet show kicked off in Las Vegas.

Business aviation has joined airlines and airports in strengthening its plans to tackle climate change. Earlier, the industry had pledged to halve emissions from 2005 levels by 2050.

Aviation accounts for roughly 3% of global CO2 emissions, and a surge in private travel is putting the business aviation industry under greater pressure to cut emissions.

Aviation brokers and other industry executives at the show told Reuters that buyers are looking for more efficient models and asking about offsetting, but none are putting off purchases of corporate aircraft or private travel due to the environment.

While business aviation emits a fraction of pollution compared with commercial, private travel has come under widening scrutiny because it generates more emissions per passenger than scheduled airline traffic.

“The world is demanding sustainability,” NBAA chief executive Ed Bolen told a breakfast with reporters.

A week ago, a group representing global airlines set the same target at its annual general meeting in Boston.

Planemakers are adding more recycled material on planes, seeking ways to lighten aircraft to burn less fuel and working on a new generation of electric aircraft.

But like airlines, corporate aircraft executives agree the quickest way to cut emissions is through use of sustainable aviation fuel (SAF) which is not widely available due to its higher costs.

See also  Analysis-Investors denied their Ever-grande finale...for now By Reuters

The U.S. Department of Energy website says sustainable aviation fuel is “made from renewable biomass and waste resources” and has the potential “to deliver the performance of petroleum-based jet fuel but with a fraction of its carbon footprint.”

“SAF will decarbonize the industry quickly,” said Éric Trappier, chief executive of Dassault Aviation SA

While SAF is now in too short supply to satisfy the needs of commercial aviation, a ramp up in production could more easily satisfy private travel, Trappier told Reuters.

“Our clients, they are prepared to pay a bit more for fuel,” he said in an interview on the sidelines of the show.

According to a recent forecast on business aviation by Honeywell International (NASDAQ:), 83% of 2021 survey respondents said they do not currently use any methods for “environmentally friendly” flight operations.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

See also  Ether Reaches Record High of Over $4.4K as Shiba Inu Becomes a Leading ETH Burner



Please enter your comment!
Please enter your name here