Emirates Launches $200 Million Sustainable Aviation Solutions Fund
Dubai-based airline Emirates announced today the launch of a new fund aimed at investing in research and development projects focused on reducing the environmental impact of fossil fuels in commercial aviation.
Emirates said that it has committed $200 million to the fund, making it the largest sustainability commitment by an airline, with the funds to be dispersed over three years.
Fuel accounts for the vast majority of the aviation sector’s emissions, which accounts for 2-3% of global greenhouse gas (GHG) emissions, with that figure potentially rising significantly over the coming decades if no action is taken. Initiatives being pursued to address the climate impact of the industry typically involve efforts to improve aircraft efficiency, develop sustainable aviation fuels (SAF), or create aircraft utilizing low or zero carbon propulsion systems such as electric or hydrogen-based, although many of these are at early stages of development.
While airlines and aircraft manufacturing industry groups have announced net zero commitments, and governments increasingly set emissions reduction goals for the industry, however, Emirates Airline President Sir Tim Clark said that new solutions will be required in order to meet these goals.
Clark said:
