The world of aviation is making strides towards sustainability, with sustainable aviation fuel (SAF) production expected to triple this year according to IATA’s latest estimate. However, despite this growth, SAF still only accounts for 0.5% of the aviation industry’s fuel needs. In order to reach the industry’s net-zero emissions goal by 2050, production must increase by 1,000-fold, posing a significant challenge for the airline industry.
IATA’s chief economist and senior vice president of sustainability, Marie Owens Thomsen, emphasized the importance of ramping up production of SAF to achieve net-zero emissions by 2050. Thomsen pointed out that while the target may seem daunting, similar challenges have been overcome in the past, particularly in the realm of renewable energy. A substantial annual investment of around $150 billion would be needed to drive the necessary expansion in SAF production.
IATA expects SAF to play a crucial role in reducing carbon emissions in the aviation industry, with projections indicating that it could account for 65% of the carbon reductions needed to meet the net-zero goal. The International Civil Aviation Organization (ICAO) has set a target of reducing aviation emissions by 5% globally by 2030, highlighting the urgency of increasing SAF production on a global scale.
Despite the potential for growth in SAF production, IATA revised its 2030 projections downward based on current announced projects. The trade group highlighted the need for 140 SAF refineries to be online by 2030 in order to meet ICAO’s emission reduction goal. However, with SAF currently representing only 3% of renewable fuel production capacity globally, there is a clear need for significant expansion in the sector.
IATA renewed its call for governments to provide more incentives for SAF production, particularly through policies that encourage the shift towards aviation-focused renewable fuel facilities. As the automotive industry transitions towards electric vehicles, there is a growing opportunity for the aviation sector to lead the way in sustainable fuel production. Hemant Mistry, IATA’s energy transition director, emphasized the importance of government support in driving the transition towards cleaner aviation fuel options.
The increasing production of sustainable aviation fuel presents a significant opportunity for the aviation industry to reduce its carbon footprint and work towards achieving net-zero emissions by 2050. However, substantial investments and policy changes will be necessary to scale up production and meet the ambitious targets set by international organizations like IATA and ICAO. By prioritizing sustainability and innovation in fuel production, the aviation industry can pave the way for a more environmentally friendly future.