IATA Releases Updated Roadmaps for Achieving Net Zero by 2050
International Air Transport Association (IATA) has released new policy and finance roadmaps outlining the path for the aviation industry to achieve net-zero carbon emissions by 2050. These roadmaps offer deeper insights into the steps needed and emphasize four key points:
1: The air transport industry can shift to greener energy by 2050.
2: The level of investment needed for this shift is similar to what was invested in creating other renewable energy markets.
3: Collaboration among policymakers is crucial for this transition to succeed.
4: The window for action is shrinking rapidly, and delays will only slow progress.
“The updated roadmaps make it clear that reaching net zero by 2050 is possible. However, urgent collaboration between all stakeholders, especially policymakers, is needed to make this a reality. We must have clear policies and financial structures in place that will support the aviation industry’s needs, while also aligning with the changes happening in other economic sectors,” said Willie Walsh, IATA’s Director General.
IATA’s Policy Roadmap highlights the need for strategic planning and cooperation beyond the aviation sector. It stresses that there is no single solution to decarbonizing air transport, and all countries must be part of the future global Sustainable Aviation Fuel (SAF) market.
Some key recommendations include:
Also read: Airports Company of Zimbabwe Accredited as a Training Office by ICAZ
Immediate Action: There is an urgent need to prioritize SAF in refineries and unlock emissions units under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
Strategic Policy Sequencing: Governments must create transparent markets for cleaner aviation energy by combining technology-push and demand-pull measures.
Transformative Collaboration: The roadmap emphasizes the need for all sectors to work together to remove existing barriers, promote investments in SAF, and develop new technologies. A global SAF accounting framework is also necessary to ensure transparency and avoid double-counting environmental benefits.
The Finance Roadmap dives into the financial requirements to achieve net-zero emissions by 2050. It outlines the necessary investments in new biorefineries and how they can benefit other industries.
Key highlights include:
Annual Investments: To reach net zero, an estimated USD128 billion per year will be required over the next 30 years. This figure is much lower than the USD280 billion per year that has been invested in solar and wind energy markets since 2004.
Transition Costs: The additional costs of transitioning to SAF, hydrogen, and other key energy sources will be USD1.4 billion in 2025. By 2050, these costs could rise to USD 744 billion, showing the urgent need to bring solutions to market quickly.
Marie Owens Thomsen, IATA’s Senior Vice President of Sustainability and Chief Economist, noted, “The costs and challenges of this energy transition are big, but the opportunities are even bigger. Countries can build new industries in agriculture and energy, benefiting from sustainable air transport. To achieve this, we need everyone policymakers, investors, solution providers, and the air transport industry to work together.