Despite steadily rising production costs, higher market returns have offset an increased cost base and…
(MENAFN) On Monday, global airlines urged governments to support the industry’s goal of achieving net zero carbon emissions by 2050.
The request was made at a conference of the International Air Transport Association (IATA) three months before a critical meeting of the United Nations World Aviation Organization.
IATA, whose member airlines account for 83% of global air traffic, pledged in October to achieve net zero emissions by mid-century, a massive and costly technological challenge.
According to IATA Director General Willie Walsh, who issued a statement at the group’s annual general meeting in the Gulf emirate of Qatar, “it is essential that the industry is supported by the governments whose policies are focused on the same goal of decarbonization”.
The IATA 2050 target is in line with the historic 2015 Paris climate agreement target of limiting the average global temperature increase to 1.5 degrees Celsius (2.7 degrees Fahrenheit) above preindustrial levels.
“Decarbonizing the global economy will require investment across countries and over decades, especially in transitioning away from fossil fuels,” Walsh added.
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