The aviation industry needs to redefine air travel in a post-pandemic world by decarbonising the sector to meet global climate goals.
The industry is responsible for about 2.5% of global CO2 emissions, and its contribution to global CO2 emissions is expected to increase to 16% by 2050. Investors need to take action to accelerate the industry’s transition to net zero by aligning with the International Energy Agency’s (IEA) 1.5°C pathway for the industry, which calls for a massive scale-up of sustainable aviation fuels. To limit global temperature rise to safe levels, demand for air travel will have to be constrained, particularly for business travel and long-haul leisure flights, through measures such as capping demand at pre-pandemic levels and shifting demand to high-speed rail where possible.
Carbon offsetting is not a credible decarbonization strategy for aviation companies, and investors need to encourage aviation companies to shift their focus to absolute emissions reductions.
Decarbonization of aviation – reduction of business air travel – shift to rail