By Rob Starr, Content Manager, Big4.com
‘The Future of Aviation Regulation’, from PwC, highlights the pressure on airline sector officials in the International Civil Aviation Organisation (ICAO) High Level Group.
Roger de Peyrecave, partner, PwC said:
“The aviation sector, which represents only 2.1% of emissions globally, has made good progress on reducing their average emissions intensity by 1.7% each year since 2000, and the industry body IATA has set ambitious targets to halve net emissions from the sector by 2050. The analysis finds that these targets are broadly consistent with a 5.1% rate of global decarbonisation suggested by PwC’s Low Carbon Economy Index, needed to limit global warming to 2°C. Efficiency improvements of 1.7% won’t be enough. Governments will need to get behind this or airlines will miss their own targets,” he furthered.
“Ultimately, they will need to accelerate advances in fuel efficiency beyond business as usual and scale-up biofuel production. “Coordination on cross-border issues such as international Air Traffic Management, carbon pricing and incentives for the production of biofuel will be critical. The sector also faces big financial stresses, and reinvesting at least some of the revenue raised from new regulation in the industry will help.”