IATA, AIA to Study Net Zero Impact on Aviation Finance

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by KnowESG
KnowESG_IATA and AIA net zero partnership
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The International Air Transport Association (IATA) and the Aviation Impact Accelerator (AIA), an esteemed industry-academia partnership housed at the University of Cambridge, have announced a groundbreaking collaboration.

Their joint mission is to expedite the aviation sector's journey towards achieving net-zero CO2 emissions by 2050.

Through this alliance, both organisations will meticulously assess the financial implications of realising aviation's ambitious net-zero CO2 goal by 2050. Expanding on their ongoing efforts, this collaboration will facilitate the creation of scenario-based tools, empowering airlines to analyse and evaluate various decarbonisation pathways.

The primary objective of this collaboration is to equip airlines and policymakers with comprehensive insights to make well-informed decisions during the transition to net zero. Moreover, this collaboration sets a robust foundation for a broader, long-term partnership between IATA and AIA.

AIA, an assemblage of international experts from diverse backgrounds, has been brought together by the University of Cambridge to propel sustainable aviation forward. Their collective expertise aims to develop evidence-based tools that enable individuals to comprehend, map, and embark on the paths leading to sustainable flight. Over the past three years, this distinguished network of experts has been assembled, and the underlying system modelling capability has been refined.

"We are thrilled to initiate this exciting collaboration between AIA and IATA, which explores realistic pathways for aviation's transition to net zero emissions by 2050. IATA has a strong track record of fostering collaboration among airlines and various stakeholders, driving significant change in the sector. By combining their expertise with AIA's unique modelling capability, we have a tremendous opportunity to unlock transformative change," expressed Prof. Rob Miller, Director of the Whittle Laboratory, University of Cambridge, and lead of AIA.

"We are delighted to join forces with the Aviation Impact Accelerator to enhance our understanding of the numerous potential pathways toward achieving a sustainable future for air transport. The development of different technological pathways will undoubtedly shape the long-term outlook of our industry, and our collaboration will focus on exploring this intersection," commented Marie Owens Thomsen, IATA's Senior Vice President Sustainability and Chief Economist.

In their future collaboration, AIA and IATA also intend to work together on the further advancement of IATA's Recommended Practice Per-Passenger CO2 Calculation Methodology, among other areas of mutual interest. This methodology, when combined with verified airline operational data, provides accurate calculation results and transparency to all stakeholders seeking to comprehend the carbon footprint generated by flying activities.

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Source: IATA

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