“Decarbonisation technologies must accelerate to enable the aviation industry to achieve its net-zero emissions goals,” emphasizes Sky One Group Chairman Jaideep Mirchandani

In November, Willie Walsh, Director General of the International Air Transport Association (IATA), highlighted concerns about the global aviation sector potentially missing sustainable aviation fuel (SAF) production targets, despite ongoing efforts to achieve net zero emissions by 2050. SAF currently constitutes only 1% of global jet fuel consumption, underscoring the urgency of scaling production.

Jaideep Mirchandani, Group Chairman of Sky One, emphasizes, “Green fuel production needs to accelerate, supported by investments in biorefineries and sustainable alternatives. Aviation stands at a pivotal juncture, and the next decade is critical for meeting sustainability metrics and environmental goals.”

A Bain & Company report from 2023 further warns that while airlines could eliminate up to 70% of emissions by mid-century, many may fall short of net zero targets. Mr. Mirchandani notes, “Improving engine and aircraft efficiency and expanding SAF adoption are essential, but the pace of decarbonisation technologies must match the urgency of our goals.”

The affordability and accessibility of SAF will play a key role, says Mr. Mirchandani, adding that the aviation industry will additionally need to develop more fuel-efficient aircraft designs. “Timely maintenance, repair, and operations (MRO) will further help to enhance operational competence, reduce downtime, and cut costs by increasing the lifespan of machinery,” he says. 

According to him, the biggest hurdle in the path of total decarbonisation is the high cost of SAF and adds, “Steep SAF prices will discourage the transition from Jet A fuel. There is also an urgent need to focus on the considerable gap between the supply of SAF and the growing global demand.”

Interestingly, in July this year, the Indian Sugar & Bio-Energy Manufacturers Association (ISMA) presented a plan to the government aiming to convert sugar mills into bio-refineries to boost the production of SAF. “Investments in fuel production, incentivising green innovations, and subsidies to encourage the creation of biorefineries can help bridge the demand and supply gap to some extent,” says Mr. Mirchandani and adds, “On National Energy Conservation Day (December 14), it is important that aviation companies think of sustainability as a core aspect of their operations and create a decarbonization blueprint by reducing emissions and updating technology to mitigate their carbon footprint.” Carbon offsetting, which “compensates” a portion of an aircraft’s carbon emissions by investing in carbon reduction projects elsewhere, has been in focus for a while. 

This November, the International Civil Aviation Organization (ICAO) approved four additional carbon standards for participation in the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) – Gold Standard, Verra, Global Carbon Council, and Climate Action Reserve. While observing that carbon offsetting does not reduce emissions at the source, Mr. Mirchandani adds that any efforts to reduce global decarbonization should be welcomed.