The International Air Transport Association (IATA), an association of global airlines, is set to organise the 2nd World Sustainability Symposium (WSS) at Miami in the United States from September 24 to 25.
In a press statement, IATA says that the meet is being hosted by American Airlines and that more than 500 professionals from aviation, sustainability, technology, agriculture, trade, development, and finance as well as policymakers and other stakeholders likely to participate. It is the second time that IATA is organizing the WSS, which has already become a flagship IATA event.
In a press statement, IATA says that this year’s summit will focus on actions needed to achieve the airline industry’s commitment to NetZero CO2 emissions by 2050.
“Sustainability is an existential challenge for humanity as it is for our airline industry. Achieving NetZero CO2 emissions by 2050 is a big and complex task. But working together with the broader aviation industry, and with the support of governments, we will get there,” says Willie Walsh, Director General, IATA.
“WSS is a unique opportunity to bring all stakeholders together to learn, align and take the critical actions needed to galvanise our determination and accelerate progress,” adds Walsh.
In its statement, IATA says that the key elements laid down by WSS to help achieve NetZero CO2 emissions by 2050 will include several addresses and discussions.
One of these include decarbonisation, which will be focusing on aviation’s transition to NetZero CO2 emissions. The address will delve into how to develop, scale and deliver the solutions necessary to decarbonise aviation over the 25 years to 2050. Discussions will address how to build the markets for Sustainable Aviation Fuel (SAF), carbon removals, and other nascent technologies, and the challenges involved in financing such projects.
IATA says that the forum will also delve into the role of innovation and technology. It will explore how new aircraft technologies and operational innovations can implement new technologies rapidly to advance the industry’s NetZero CO2 emissions goal.
The statement adds that one of the addresses will also include policy and regulation, which will examine the global policy landscape aimed at achieving NetZero CO2 emissions, particularly related to SAF, and the complexities of aligning global regulations and harmonising SAF policies to scale up production and deployment.
The statement adds that another topic that the symposium will address is finance and transparency, looking at investment challenges, what are the difficulties and opportunities in financing renewable energy projects and SAF production, and how to make the investment case more attractive to stakeholders.
IATA says that the focus will be on strategies for attracting capital, transferring risk, and on what innovation is needed to finance the industry’s transition to NetZero.
Transparency will also be addressed as it is an essential part of the investment challenge in terms of fostering informed and science-based decision-making among investors, airlines, and other stakeholders.
“The WSS aims to unite decision makers across the public and private sectors, and across all areas of government, with the objective of decarbonising air transportation. Aviation’s energy transition needs support beyond transportation ministries as it touches upon nearly all areas of the global, regional, and local economies and societies,” says Marie Owens Thomsen, Senior Vice President Sustainability and Chief Economist, IATA.
“Radical collaboration is needed to engage technology, policy, and finance and unite with a single-minded purpose to reach NetZero CO2 emissions by 2050. The mission is urgent, as a multitude of new markets need to reach maturity in the short 25 years to 2050. The WSS is the agenda-setting event that can accelerate progress as we tackle this enormous challenge,” Thomsen adds.