Commercial, Finance, Sourcing Renewables - May 12, 2023
Emirates Creates $200 Million Aviation Sustainability Fund
Emirates, an international airline, announced it committed US$200 million to fund research and development projects focused on reducing the impact of fossil fuels in commercial aviation.
The funds will be disbursed over three years. Emirates will identify partnerships with organizations working on solutions in advanced fuel and energy technologies.
“We are ring-fencing US$ 200 million to invest in advanced fuel and energy solutions for aviation, which is where airlines currently face the biggest impediment in reducing our environmental impact,” said Sir Tim Clark, President of Emirates Airline in a statement. “We looked long and hard at the reality we face in commercial aircraft and engine technology, fuel supply chain, and our industry’s regulatory and eco-system requirements. It’s clear 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.
In January, Emirates completed the first 100% SAF-powered demonstration flight in partnership with Boeing and GE.
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 both airside and landside.