The report will utilize International Air Transport Association’s Net Zero Tracking Methodology and will provide industry-level data on the industry’s journey toward sustainability.
The International Air Transport Association (IATA) has announced its plans to publish an annual Track Zero report, which will track the progress of the aviation industry toward its commitment to achieving net-zero carbon emissions by 2050. The report will utilize IATA’s Net Zero Tracking Methodology and will provide industry-level data on the industry’s journey toward sustainability.
The Net Zero Tracking Methodology, developed in collaboration with industry experts, will serve as a standardized and transparent framework for reporting progress. IATA member airlines will contribute data, which will be aggregated and validated to ensure accuracy. The first report, featuring airline-contributed data, is scheduled for publication in the fourth quarter of 2024.
While the report will foster transparency and cooperation within the industry, it is not meant to be a competitive tool. Individual airlines can utilize the aggregate data to benchmark their own progress and communicate their decarbonization efforts to key stakeholders such as governments, investors, and customers.
“Transparency is a critical element of aviation’s decarbonization. We will report our progress annually to ensure standardized, accurate and comprehensive reporting of aviation’s journey to net zero. Industry-level data in the Track Zero report will help airlines, governments, and investors with tools to improve decision-making to accelerate progress. Decarbonization is an industry challenge, not a competitive issue. Nonetheless, the report and the methodology behind it can enable benchmarking that could intensify decarbonization efforts by spreading the success of best practices and sparking innovation”, said Marie Owens Thomsen, Senior Vice President Sustainability and Chief Economist, IATA.
Click Here Report Methodology- Net Zero Tracking Methodology
The Net Zero Tracking Methodology, which underpins the Track Zero report, offers several key features. It establishes a transparent framework for reporting by identifying the relevant emissions scope, sources, and processes for tracking and measuring emissions. The methodology also includes best practices for data collection and validation, ensuring accuracy while minimizing administrative burden. Additionally, it accommodates reporting of various decarbonization activities on a lifecycle basis, including the use of conventional and sustainable aviation fuel (SAF), carbon offsets, and future power sources such as hybrid-electric, electric, and hydrogen-powered aircraft.
The decision to publish the Track Zero report follows the release of five roadmaps by IATA, outlining critical actions required for the aviation industry to achieve its net-zero CO2 target by 2050. These roadmaps cover aircraft technology, energy infrastructure, operations, finance, and policy. The insights gained from the Track Zero report, along with practical experience and emerging technologies, will contribute to setting interim milestones on the path to net zero.
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The Track Zero report and the Net Zero Tracking Methodology represent significant steps in the aviation industry’s commitment to sustainability and reducing its environmental impact. By fostering transparency, accountability, and benchmarking, the industry can accelerate its decarbonization efforts and work towards a more sustainable future.
