Sustainability standards drive aviation accountability

Aviation contributes around 2% of global emissions and is focused on its sustainability efforts, pledging to reach Net Zero by 2050.  The lack of a silver bullet solution for decarbonization should not take away from the exciting developments underway. Sustainable Aviation Fuel (SAF) continues to attract a lot of attention with mandatory targets starting to be implemented. The world’s first transatlantic flight fueled entirely by SAF occurred at the end of 2023, demonstrating its feasibility as a power source, while innovations such as eVTOL aircraft continue to advance apace, as do improvements on existing technology, such as enhanced engine efficiency or aerodynamic design, and operational developments, such as better and more efficient route planning or mission tailoring.

One unheralded development that could drive greater accountability is the development and subsequent implications of the European Union’s Corporate Sustainability Reporting Directive (CSRD), and similar regulations worldwide. They require companies to disclose comprehensive information on their environmental, social, and governance (ESG) performance and impact.

Companies in the aviation sector will have to familiarize themselves with the CSRD and determine whether they are required to report. However, when companies look beyond the cost implications, there are some potential benefits to standardized reporting. It may foster investor and stakeholder confidence in the industry and the best performing companies, even enhancing reputation and brand image for, say, airlines that perform well and improve their metrics against standardized KPIs, demonstrating industry leadership in decarbonization. Most importantly, it should improve sustainability practices across the sector.