Wednesday 19 January 2022

Irish aircraft lessors collaborate for net zero aims

The body representing aircraft lessors in Ireland, Aircraft Leasing Ireland (ALI), has announced its 31 members will collaborate to support aviation in achieving net zero emissions by 2050.

ALI has also developed an ESG narrative, outlining the steps that can be taken to help the sector reach net zero.

It states as its members are buyers of more than 50% of the world’s new technology aircraft, they should use their influence to encourage the industry to become more sustainable and advise on the steps that can be taken.

It also reveals its members should invest more heavily into travel providers based on their sustainability credentials to steer the industry in the right direction, for example the amount of sustainable aviation fuel (SAF) projects ongoing or work with electric and hydrogen-based propulsion.

Declan Kelly, Chair of ALI, said: “Air travel has been a catalyst for our global economy. With the industry set to achieve a steady growth rate over the coming years, it is essential that this is delivered sustainably.

“Today we are taking our first, unified, positive steps as lessors to show our commitment to supporting the wider industry to achieve net zero carbon emissions by 2050.

“This is achievable but it requires a seismic shift in the development of new technologies in the area of carbon sequestration, SAF and new propulsion aircraft. Support is therefore required at all levels across government and industry.”