Aviation & Sustainability has been saved
Aviation & Sustainability
Matthew Dolan, Partner, Tax & Legal, and John Perry, Director, Business Process Solutions, Deloitte Ireland, ask what options are available to the aviation industry, a major contributor to emissions, as it plots a course to sustainability?
Aviation connectivity is a strong driver of economic growth, jobs, trade, and mobility.
At the same time, the growth in air travel demand needs to maintain high standards of safety as well as reducing the industry’s environmental footprint. Aviation is one of many industries that has a heavy impact on global human-made emissions. Today, it accounts for 3% of global carbon emissions, but if the sector makes no changes, this will increase to as much as 27% by 2050. Based on planned reductions and more efficient fossil fuel technology, the industry is still projected to consume over 12% of the annual CO2 budget. In October 2021, the International Air Transport Association (IATA) 77th Annual General Meeting approved a resolution for the global air transport industry to achieve net zero carbon emissions by 2050. However, it is widely recognised within the aviation industry that achieving net zero emissions will be a huge challenge. This is because the industry must progressively reduce its emissions while accommodating the growing demand of a world that is eager to fly in a post-COVID-19 era. However, it is focused on delivering maximum reduction in emissions at source through the use of sustainable aviation fuels, new propulsion technologies, other efficiency improvements such as improvements to air traffic navigation, and green aviation finance driven by investor demand.
Key accelerators in the race to net-zero for Irish aviation
What Irish Aviation companies need to know.
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