According to an organization representing the UK aviation sector, the cost of decarbonizing air travel will undoubtedly increase ticket costs and discourage some people from taking to the skies.
According to Sustainable Aviation, actions like switching to more expensive sustainable aviation fuel will “inevitably reduce passenger demand”.
But despite the “slightly higher costs,” it was discovered that individuals “still want to fly.”
By 2050, it was stated, the number of passengers per year is still anticipated to increase by around 250 million.
An association of businesses called Sustainable Aviation includes carriers like British Airways, hubs like Heathrow, and producers like Airbus.
According to the report, sustainable aviation fuel (Saf) will make up at least 75 percent of the fuel used in UK flights by 2050, and will play a significant role in the industry’s “journey to net zero”.
Saf decreases carbon emissions by 70% when compared to conventional jet fuel and is made from sustainable sources like agricultural waste.
The cost of production is currently far higher, and the group claims that these costs would have to be passed on to consumers.
The research also states that the cost of adopting carbon offsetting programs to achieve net zero will increase airline costs.
This “green premium” will have “some impact on future demand” for air travel, according to Sustainable Aviation’s chairman and head of sustainability at Heathrow Airport Matthew Gorman.
He continued, though, by stating that the business could still “grow significantly” because most consumers were “happy to pay a little bit more to travel”.
The UK, which has the third-largest global aviation network, is said to have a great chance as a result of the shift to greener travel, according to the Sustainable Aviation organization.
The UK is expected to host up to five additional Saf manufacturing facilities, with government funding for their construction.
The organization expressed worry that “significant” tax benefits would entice investors away from the UK and towards the US and the rest of Europe, leaving the UK at risk of losing out.
In response, it pleaded with the government to set up a system to reduce the price difference between Saf and conventional jet fuel.
At Farnborough Airport on Monday, ministers and aviation executives will present an action plan for decarbonizing the aviation sector.
Transport Secretary Mark Harper said: “This government is a determined partner to the aviation industry – helping accelerate new technology and fuels, modernise their operations and work internationally to remove barriers to progress.
“Together, we can set aviation up for success, continue harnessing its huge social and economic benefits, and ensure it remains a core part of the UK’s sustainable economic future.”
(Adapted from BBC.com)
Categories: Economy & Finance, Geopolitics, Regulations & Legal, Strategy, Sustainability
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