Will airlines achieve net zero carbon emissions by 2050?

The International Air Transport Association (IATA) recently approved a resolution at its annual general meeting, setting a target for the global air transport industry to achieve net zero carbon emissions by the year 2050. This ambitious goal aligns with the global push for sustainability and adherence to the Paris Agreement. However, the road to achieving this target is fraught with challenges and requires a strategic approach to address the issue of carbon emissions in the aviation sector. To delve deeper into the feasibility of this target, Chris Ophan, Founder of Oxygen, shared insights in an interview with CNBC Africa's Julius Busimongu. Ophan highlighted the significance of tackling carbon emissions in aviation, considering that the sector contributes approximately 2% of total global CO2 emissions. With the continued growth of the aviation market projected until 2050, this percentage is expected to rise. To combat this trend and align with the goal of net carbon neutrality by 2050, proactive measures need to be implemented to mitigate the environmental impact of air travel. The conversation shifted towards the realism of the target set by the aviation industry. Ophan expressed concerns regarding the prevalent focus on reducing carbon emissions without adequate emphasis on increasing the planet's capacity to sequester carbon. He emphasized that while reducing emissions is crucial, it is equally important to enhance the planet's ability to absorb and store carbon through natural terrestrial carbon sinks. Ophan likened the approach of solely reducing emissions to trying to stop a bathtub from overflowing by decreasing the inflow, highlighting the necessity of addressing both emission reduction and carbon sequestration to achieve a balanced ecosystem. Moreover, Ophan emphasized the potential opportunities for Africa in contributing to carbon sequestration efforts. He noted that the continent's natural carbon sinks present a valuable resource that can be leveraged to enhance carbon sequestration capacity. By protecting, restoring, and monetizing these carbon sinks on the global market, African nations and communities can play a pivotal role in advancing carbon neutrality goals. In addressing the practical steps that airlines should take to reduce their carbon footprint, Ophan stressed the importance of adopting innovative business models that integrate carbon sequestration activities. By accurately assessing their residual carbon emissions and investing in carbon sequestration projects, airlines can effectively offset their environmental impact. Ophan proposed a transactional approach where airlines purchase carbon sequestration capacity from stakeholders managing carbon sinks, thereby ensuring verifiable and tangible progress towards achieving net zero carbon emissions. As the aviation industry grapples with the increasing demand for air travel, the call for sustainable practices and carbon neutrality becomes more urgent than ever. Ophan's insights shed light on the transformative potential of aligning business strategies with environmental conservation efforts, offering a pathway towards a more sustainable future for the aviation sector and the planet as a whole.