By Ross Kerber, US Sustainable Business Correspondent |
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It's rarely news when institutions stick to the status quo. But a story about an airline trade group maintaining a 2050 net-zero emissions target caught my eye because it showed how the industry is managing talks about its strategy for the transition to sustainable energy. That discussion is relevant to every sector.
You can read the details in this week's main story linked to below. I've also flagged our coverage of a good-governance restructuring at Toyota, a big day for BlackRock, and results from a survey of asset managers by Morningstar.
Please follow me on LinkedIn and/or Bluesky. Or get me via ross.kerber@thomsonreuters.com. |
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A Virgin Atlantic Boeing 787 arrives to complete the first 100% Sustainable Aviation Fuel transatlantic flight from London's Heathrow airport to John F. Kennedy International Airport, in New York City, U.S., November 28, 2023. REUTERS/Brendan McDermid |
Airlines stick to net zero target despite green fuel doubts |
Global airlines wrapped up a two-day summit in New Delhi sticking to a target of net zero emissions by 2050, but voicing new worries about whether sustainable aviation fuels will be available by then, along with new energy-efficient planes that can use them.
The International Air Transport Association, representing about 350 airlines, said hitting the target would cost carriers $4.7 trillion, or $174 billion a year - at least some of which is likely to be passed on as higher fares.
There had been signs some airlines were growing more skeptical about the target, yet IATA avoided re-opening a sensitive debate on net zero as bosses pointed to a narrow window for the industry to meet its goals.
They stepped up criticism of energy companies, accusing them of adding arbitrary charges in Europe, and planemakers that have failed to deliver efficient jets on time.
"We still have time to get there, but we do need to see more action on the part of all of the partners in the value chain to make sure that the industry can get there," said IATA Director General Willie Walsh.
But airlines themselves will need to agree to buy more sustainable fuel, a Bayer executive responded. You can read more of our coverage by clicking the button below |
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| A pump jack operates near a gas turbine power plant in the Permian Basin oil field outside of Odessa, Texas, U.S. February 18, 2025. REUTERS/Eli Hartman |
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- It was a big day for BlackRock on Tuesday after Texas removed the top asset manager from a list of companies seen as boycotting the energy industry, a step the firm won only with deep cuts to its climate ambitions.
- With UnitedHealth shareholders looking for a comeback after the company posted its first earnings miss since 2008 and suspended its earnings outlook, new CEO Steve Hemsley vowed to earn back investor trust and said it was evaluating medical cost trends.
- Toyota Motor is taking forklift-maker Toyota Industries private for $33 billion, in line with a good-governance push by Japanese officials for companies to unwind stakes in each other.
- A theoretical merger between Shell and BP would create the largest Western oil major, pumping 5.4 million daily barrels of oil, a scenario creating repeated questions for Shell CEO Wael Sawan.
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- According to a new survey from Morningstar, "Asset owners continue to view climate as a material investment factor and are evolving while recommitting to their climate investment strategies...For some, portfolio decarbonization alone is not doing enough" to address emissions reduction, the report found.
- Last week, a U.S. Energy Department agency terminated more than $3.7 billion worth of awards to 24 green energy projects. Even an Exxon project was cut as U.S. President Donald Trump has changed government priorities to maximize oil and gas output.
- A federal judge blocked the U.S. Department of Homeland Security from canceling a union contract, saying Trump's administration "likely broke the law" by stripping 50,000 transportation security officials of the ability to bargain.
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