Air New Zealand explores partnership for green fuel supply to meet net-zero goals
![Air New Zealand explores partnership for green fuel supply to meet net-zero goals](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/03/Depositphotos_169833548_S.webp)
On Wednesday, Air New Zealand invited startups operating in the sustainable aviation fuel (SAF) sector to seek potential supply partners as part of its commitment to decarbonization and achieving its net-zero carbon emission targets.
The leading carrier expressed its interest in establishing short-, medium-, and long-term offtake agreements to manage risk and ensure demand certainty for SAF producers.
“By exploring diverse partnership options with SAF producers, Air NZ will not only pave the way for its own smooth transition towards its net-zero carbon emission targets but more importantly, set a great example to accelerate the global decarbonization journey,” said Hebe Chen, market analyst, IG Markets.
The airline foresees SAF, comprising approximately 20% of its total fuel consumption by 2030. It has set a target to reduce carbon intensity by 28.9% by 2030 and attain net-zero carbon emissions by 2050.
Also read: Major developments in SAFs marked by IATA
Despite efforts by global regulators to promote the use of sustainable fuel, aviation remains one of the most challenging sectors to decarbonize, contributing about 2% of the world’s emissions.
According to Chen from IG Markets, Air New Zealand’s call for partnerships in the SAF domain is seen as an encouraging step toward accelerating the transition of global airlines to sustainable aviation fuel.
As of February 2024, there is no established mandate for SAF in New Zealand. Nevertheless, the company has collaborated with the government on plans to invest over NZ$2 million ($1.21 million) in SAF research and development.
As of 2354 GMT, the company’s shares remained unchanged at NZ$0.6 after experiencing a decline of up to 1.7% in early trading.
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