Aircraft Leasing Ireland (ALI), the Ibec body representing aircraft lessors, said its 31 members will collaborate and use their influence as owners of more than half of the global fleet to lead and drive aviation towards net-zero carbon emissions by 2050.
Declan Kelly, chair of ALI, said that meeting the objective "requires a seismic shift in the development of new technologies in the area of carbon sequestration, sustainable aviation fuels (SAF) and new propulsion aircraft".
He said that the Republic, as an aircraft financing hub and home of the majority of the global lessor-owned fleet, “can play a leading role in this technological research, and leasing can underpin this by deploying our capital and buying power”.
Last November the International Air Transport Association (IATA) saw its member airlines pass a resolution committing the industry to achieving net-zero carbon emissions from their operations by 2050. This pledge brings air transport in line with the objectives of the Paris agreement to limit global warming to 1.5 degrees Celsius.
Steps that ALI has committed to include the development of a charter during 2022 which will demonstrate leadership in carbon disclosures, and will accelerate progress in future aircraft and low-carbon technologies.
Its members will be encouraged to “use their very significant influence” with aircraft manufacturers and carriers to help the industry achieve net zero by 2050.