Emirates has announced its commitment to set a $200 million to fund research and development projects focused on reducing the impact of fossil fuels in commercial aviation.
The funds will be disbursed over three years and marks the biggest commitment by an airline on sustainability.
Emirates will identify partnerships with leading organisations working on solutions in advanced fuel and energy technologies.
"We are ring-fencing $ 200 million to invest in advanced fuel and energy solutions for aviation, which is where airlines currently face the biggest impediment in reducing our environmental impact," highlighted Sir Tim Clark, President Emirates Airline
"We looked long and hard at the reality we face in commercial aircraft and engine technology, fuel supply chain, and our industry’s regulatory and eco-system requirements. It’s clear that with the current pathways available to airlines in terms of emissions reduction, our industry won’t be able to hit net zero targets in the prescribed timeline.
"We believe our industry needs better solutions, and that’s why we’re looking to partner with leading organisations on R&D. Our aim is to contribute meaningfully to practical solutions for the long-term sustainability of commercial aviation."
Sir Tim added: "Until viable solutions can be found, Emirates will continue to implement environmentally responsible practices throughout our business, including uplifting SAF where feasible, ensuring efficient fleet operations, and inducting modern aircraft into our fleet. Our $200 million fund is earmarked for R&D, and not for operating costs like the purchase of SAF or carbon offsets to tick regulatory boxes - activities we consider business-as-usual."
Emirates’ Environmental Sustainability Executive Steering Group will oversee disbursements from the fund, with support from technical experts.
The airline has a long-standing environmental policy and strategy which focusses its activities on three areas: emissions reduction, responsible consumption, and the conservation of wildlife and habitats.
We've just announced a US$ 200 million aviation sustainability fund, the single biggest commitment by any airline on sustainability R&D to date. https://t.co/5Bz4zIXEv4 pic.twitter.com/2yCxhtgNre
— Emirates (@emirates) May 11, 2023
More details to follow.
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