The airline industry is facing one of its biggest challenges yet: reducing its carbon footprint. Responsible for 3% of global CO2 emissions and using 95 billion gallons of aviation fuel per year, the industry is under pressure to find sustainable solutions.
Governments and airlines around the world are taking action to produce and procure sustainable aviation fuel (SAF) in an effort to reduce emissions. The UK’s Jet Zero Council, established in 2020, is leading the way with grants, strategies, and public-private partnerships to attract investment into the industry. Last year, five projects were granted funding, with the goal of cutting CO2 emissions by 200,000 tonnes per year when fully operational.
Public-private partnerships, like those supported by the Jet Zero Council, demonstrate government support for SAF and help attract investors. While the £165 million investment is relatively small compared to the funding needed, it is a step in the right direction.
Avation PLC (LON:AVAP) is a commercial passenger aircraft leasing company owning a fleet of aircraft which it leases to airlines across the world. Avation’s future focus are new technology low CO2 emission aircraft.
