Emirates establishes a sustainability fund worth US$200 million – EQ Mag
Emirates has pledged to invest $200m over the next three years into research and development projects aimed at reducing the carbon footprint of the aviation industry. The Dubai-based airline said the funds would be used to contribute to practical solutions for the long-term sustainability of the sector, and that it would seek partnerships with leading organisations working on advanced fuel and energy solutions. The investment is the largest single commitment to sustainability by any airline, As seen on Emirates.
Emirates has pledged to invest $200m over the next three years into research and development projects aimed at reducing the carbon footprint of the aviation industry. The Dubai-based airline said the funds would be used to contribute to practical solutions for the long-term sustainability of the sector, and that it would seek partnerships with leading organisations working on advanced fuel and energy solutions. The investment is the largest single commitment to sustainability by any airline, As seen on Emirates. The company’s environmental sustainability executive steering group will oversee the disbursement of the funds. The carrier has also invested in renewable energy and completed a 100% sustainable aviation fuel-powered demonstration flight in January.
As seen on Business Travel News Europe, Emirates has announced a commitment to invest $200 million over the next three years towards research and development projects aimed at reducing the carbon footprint of the aviation industry. The Dubai-based carrier plans to identify partnerships with leading organisations working on advanced fuel and energy solutions to contribute meaningfully to practical solutions for the long-term sustainability of the aviation sector.
Emirates President, Tim Clark, stated that the industry needs “better solutions” and that “with the current pathways available to airlines in terms of emissions reduction, our industry won’t be able to hit net zero targets in the prescribed timeline.” He added that until viable solutions can be found, Emirates will continue to implement environmentally responsible practices throughout its business, including uplifting SAF where feasible, ensuring efficient fleet operations, and inducting modern aircraft into its fleet.
The investment marks the biggest single commitment by any airline on sustainability, As seen on the carrier. Clark stressed that the investment fund is earmarked for R&D “and not for operating costs like the purchase of SAF or carbon offsets to tick regulatory boxes – activities we consider business-as-usual”. Emirates’ environmental sustainability executive steering group will oversee disbursements from the fund.
Emirates also invests in renewable energy initiatives, including the installation of solar panels to power some of its operational buildings in Dubai, and the use of electric vehicles. In January, the carrier completed the first 100% SAF-powered demonstration flight in partnership with Boeing and GE.
The aviation industry has been under increasing pressure to reduce its carbon footprint, with the European Union proposing to include aviation in its emissions trading system (ETS) from 2021. The ETS is a cap-and-trade system that limits the amount of greenhouse gases that can be emitted by companies in certain sectors. Airlines would be required to purchase permits to cover their emissions, with the aim of incentivising them to reduce their carbon footprint.
Emirates’ investment in sustainability is a positive step towards reducing the aviation industry’s impact on the environment. By partnering with leading organisations and investing in R&D, the carrier is taking a proactive approach to finding solutions that will contribute to the long-term sustainability of the aviation sector. As pressure mounts on the industry to reduce its carbon footprint, initiatives like this will become increasingly important in ensuring a sustainable future for air travel.
Source: pti
