Monday, June 3, 2024 The International Air Transport Association (IATA) has reported that its forecasts for a significant increase in Sustainable Aviation Fuels (SAF) production by 2024 are on target. Production is expected to rise to 1.9 billion liters (1.
5 million tonnes), which will fulfill about 0.53% of the total aviation fuel requirements for that year. IATA also suggests various government policies that could further boost the uptake of SAF.
Willie Walsh, the Director General of IATA, expressed optimism about the progress, noting, “With SAF poised to contribute around 65% of the carbon reduction necessary for airlines to reach net-zero emissions by 2050, the anticipated growth in SAF production next year is a positive sign. Although much progress is needed, we are beginning to see the scale of increase needed to meet these goals.” Regarding renewable fuel production, of which SAF is a component, there are approximately 140 renewable fuel projects slated to potentially contribute to SAF production by 2030.
If these projects materialize, they could collectively produce up to 51 million tonnes of renewable fuels, distributed globally. Investor interest in SAF is climbing, indicating that production could even surpass current projections, despite the typical three-to-five-year development period from planning to operational status. However, it’s noted that not every project announced may reach the final investment decision stage.
Governments, through the Internationa.
