(Bloomberg) -- In the quest to shrink the outsized climate impact of air travel, airlines across the globe have vowed to consume vast quantities of greener...
-- In the quest to shrink the outsized climate impact of air travel , airlines across the globe have vowed to consume vast quantities of greener jet fuel . But most airlines are lagging far behind their pledges, according to a Bloomberg Green analysis of corporate environmental filings for 2023.Although many airlines have promised to get at least 10% of their propellant from cleaner sources by the end of the decade, the use of sustainable aviation fuel , or “ SAF ,” grew from 0.
“That’s the kind of exponential growth we’ve been hoping for,” says John Heimlich, chief economist at Airlines for America, an industry trade group.But, because SAF remains significantly more expensive, adds Heimlich, mandates would cause the price of air travel to spike. “It would just make air travel more expensive and less plentiful for all the customers,” he says.
The shortage of cleaner fuels makes DHL’s market-leading numbers more remarkable. When the company announced a plan to accelerate its emissions reductions in 2021, it pledged to spend €7 billion over the next decade to make it happen. Last year, this included €113 million to cover the extra cost of SAF versus conventional jet fuel.
“Supply remains limited and has not reached economies of scale, making it cost prohibitive for wide adoption,” a UPS spokesman said in a written statement. Big problems lie ahead when tetraplegic Freya moves in with her new lover. Plus: the rise of Mohammed bin Salman. Here’s what to watch this eveningPrince Harry speaks Spanish to cheering crowd at music festival
Sustainable Aviation Fuel Aviation Fuel SAF European Union European Airlines Bloomberg International Air Transport Association Jet Fuel Air Travel
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