The 29th Conference of the Parties (COP29) of the United Nations Framework Convention on Climate Change (UNFCCC held in Baku, Azerbajian in November. Many world leaders attended what is now the world’s most important meeting on climate change – in its 29th edition, hence COP29. The built up expectation was that they would discuss a range of issues, including how to limit long-term global temperature rises to 1.5C – a target set by the Paris Agreement.
The Paris agreement is a huge international deal agreed by leaders from 195 countries, which is one of the main ways that the world is trying to deal with climate change. The UN’s World Meteorological Organisation (WMO) has said that 2024 is on track to be the world’s warmest year on record. It states further that the global average temperature between January and September has been around 1.54C above those of the late 19th century.
The United Nations Climate Change Conferences are some of the largest international meetings on climate issues in the world. With so many world leaders gathered in one place, they offer potential for global agreements and action that countries would not ordinarily be able to do alone.
At COP21 in Paris, a goal of limiting long term global temperature rises to 1.5C was agreed to by nearly 200 countries. The UN’s climate body, the Intergovernmental Panel on Climate Change (IPCC), says a 1.5C target is very important to avoid the most damaging impacts of climate change.
In the context of aviation, COP29 is significant for several reasons. Aviation is a significant contributor to greenhouse gas emissions, and COP29 provides a platform for countries to address these emissions and work towards reducing them. COP29 could also be a platform for discussions and agreements on sustainable aviation fuels, electric/hybrid-electric propulsion, and other innovative solutions to reduce aviation’s environmental impact.
This conference brings together countries, industry stakeholders, and civil society to collaborate on addressing the challenges of climate change in aviation. It is an opportunity for the aviation sector to demonstrate its commitment to climate action and to showcase progress towards reducing its carbon footprint.
The expectation was that by addressing aviation’s environmental impact at COP29, the industry can move towards a more sustainable future, reducing its contribution to climate change and aligning with global efforts to mitigate its effects. However, the aviation industry faces challenges in the effort to reduce its carbon footprint. Sustainable aviation fuel (SAF) shows potential as a promising alternative to fossil fuels if cost barriers and other concerns are addressed, according to the latest Institute for Energy Economics and Financial Analysis (IEEFA) briefing.
SAF is fuel derived from alternative feedstocks such as biomass or waste oils and is then tailored for use in aviation. SAF, experts believe, can reduce life cycle greenhouse gas emissions substantially compared to conventional jet fuel.
Some of the risks related to the adoption of SAF include deforestation, loss of biodiversity and competition for land with food crops. Others are the requirement of significant water resources for irrigation, which can strain local water supplies and affect water quality. There is also the cost issue. SAF producers will need to reduce costs to a level closer to that of traditional jet fuel to encourage widespread adoption.
McKinsey research found that companies that courageously pursue stronger growth and profitability while improving ESG performance deliver superior shareholder returns. The global strategy firm asserted that C-suite leaders who chase growth without considering how their strategies could impact people, the planet, and their firm’s long-term sustainability increase reputational risk, and their research also revealed they are also less likely to lead their companies to full growth potential.
The implication for planning is that the aviation industry would need to conduct a more rigorous analysis to understand the full dimensions, including regulatory requirements of the large-scale use of biofuels as well as its relationship to food supply and water use. A rigorous analysis is needed to understand how to make SAF sustainable and how the industry can reach its goals.
Abhishek Sinha, IEEFA energy finance analyst said, “With continued innovation, collaboration, and investment, SAF has the potential to pave the way toward a greener, more sustainable future for air travel.” This seems to be the way to go for the aviation industry as it seeks to reduce its carbon footprints.
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