Heads up, globe-trotters! 🌍✈️ The aviation industry might be hitting some turbulence on its journey to greener skies. Willie Walsh, the head honcho at the International Air Transport Association (IATA), sounded the alarm this Tuesday, saying airlines aren't moving fast enough to meet their sustainable aviation fuel (SAF) targets by 2050.
\"We're not making as much progress as we'd hoped for, and we're certainly not making as much progress as we need,\" Walsh shared at an IATA media day in Geneva. 😬
Currently, SAF makes up a tiny 0.3% of the world's jet fuel usage. Even by 2025, it's projected to reach only 0.7%, according to IATA data. Experts are shouting from the rooftops that we need to ramp up green fuel production ASAP to hit those emission goals! 🌿⏰
IATA's latest study revealed that global production of green jet fuel in 2024 is expected to be just 1 metric ton—ouch! That's even lower than last year's projection of 1.5 metric tons. 😱
So, what's the holdup? Walsh points to a lack of biorefineries being built to produce this green fuel, mainly because they require big bucks to get off the ground. 💸🏭
In an effort to speed things up, IATA plans to launch a new project next year to better track global SAF initiatives. The goal? More transparency and, hopefully, more action! 🚀
But here's the kicker: Europe is lagging behind the United States in creating incentives to boost investment in green fuel production. The 2022 U.S. Inflation Reduction Act (IRA) is dishing out hundreds of billions of dollars in subsidies for clean energy. It's been touted as outgoing President Joe Biden's signature move to fight climate change. 🇺🇸🌱
However, with President-elect Donald Trump set to take office, the future of the IRA and its impact on SAF production is up in the air. \"There was quite a lot of progress in the first Trump administration in this area as well. So, I don't think this is a black-and-white issue,\" Walsh told reporters. 🤷♂️
Time's ticking, and the world's eyes are on the aviation industry to see if it can soar towards a greener future. 🌎✈️💚
Reference(s):
Global airlines could miss sustainable fuel targets, says IATA head
cgtn.com
