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IATA's Updated Net Zero Roadmaps Establish The Feasibility Of Energy Transition By 2050

KUALA LUMPUR, Sept 24 (Bernama) -- The International Air Transport Association (IATA) has released updated Policy and Finance Net Zero Roadmaps, which among others conclude that the air transport industry’s energy transition is feasible on the 2050 horizon.

Director-general Willie Walsh said the updated roadmaps make it clear that decarbonisation 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,” he said in a statement today.

The updated roadmaps contain expanded and deepened analyses, and another key conclusion is that investments needed to make such energy transition possible are comparable to those engaged in previous creations of new renewable energy markets.

Furthermore, they conclude that success in the transition depends critically upon policymakers’ unity of purpose, and the time left for joining forces in air transportation’s energy transition is shrinking by the minute.

“Every action delayed is an opportunity missed,” IATA said.

The Policy Roadmap stresses the importance of strategic policy sequencing and addresses the need for global collaboration, including beyond the aviation sector.

“The recommendations recognise 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,” IATA said.

Meanwhile, the Finance Roadmap offers a detailed view of the required investments to reach net zero carbon dioxide emissions by 2050, and the costs involved to airlines in procuring the new solutions. 

“To reach net zero by 2050, the annual average capital expenditure needed to build the new facilities (biorefineries) over the 30-year period is about US$128 billion (US$1=RM4.16) per year, in a best-case scenario,” the association said.

IATA represents some 300 airlines that comprise 83 per cent of global air traffic.

-- BERNAMA

 

 

 

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