Air New Zealand on Monday signed its largest deal for sustainable aviation fuel (SAF), with Finland-based petroleum refiner Neste , in a bid to decarbonize and meet its net-zero carbon emission targets.
The logo for Air New Zealand is displayed at their office located at Sydney International Airport, Australia, June 20, 2017. Picture taken June 20, 2017. REUTERS/David Gray/File PhotoThe deal involves the purchase of nine million liters of the green fuel, which will be produced at Neste's Singapore refinery and supplied to Los Angeles International Airport between April 1 and Nov. 30, 2024, the airline said in a statement.
"The SAF is expected to deliver a reduction of carbon emissions by up to 80% over the life cycle of the fuel compared to using fossil jet fuel, which includes its production as well as transport emissions," the airline said in a statement. The airline anticipates it would need SAF to make up around 20% of its total fuel uptake by 2030 as it aims to reduce carbon intensity by 28.9% by the end of the decade and achieve net-zero carbon emissions by 2050.
Aviation produces about 2% of the world's emissions and is considered one of the hardest sectors to decarbonise, even as global regulators try to boost the use of sustainable fuel. "Sustainable aviation fuel is currently the only solution to significantly reduce emissions from long haul flight, but it currently makes up less than 1% of the global fuel supply," Air New Zealand Chair Dame Therese Walsh said.Industrial gas manufacturer Air Products and Chemicals said on Monday it has received funding to build two hydrogen refueling stations in Germany, which are capable of fueling a range of vehicles including trucks.
REPI:RENEWABLE-FUELS REPI:FUEL-OIL REPI:REFINING REPI:HYDROGEN RSBI:CLIMATE-CHANGE RSBI:CLEAN-ENERGY AIR AIRL AIRL1 AIRP AIRS08 CMPNY CO2 COM ENER ENFF ENG ENR HFUEL INDS INDS08 NRG OILG PROD PSSNGR PUBL REFI REFI1 RENE RENF RFO RNW SPCAIR TPT TRAN WEU EUROP NORD EZC EMEA NZ FI AUNZ ASIA TOPNWS PACKAGE:WORLD-NEWS SUSTAINABLE-BUSINESS
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