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The International Air Transport Association (IATA) has developed the Net Zero Tracking Methodology to track progress towards the aviation industry’s commitment to achieving Net Zero carbon emissions by 2050.
Annually, IATA will publish the Track Zero report, which will consolidate data provided by IATA member airlines, serving as a comprehensive industry-level progress report. The first report, including airline-contributed data, is scheduled for release in Q4 2024. Non-IATA member airlines are also encouraged to participate in the reporting process.
The transparency provided by the Track Zero report aims to facilitate standardised, accurate, and comprehensive reporting, assisting airlines, governments, and investors in decision-making to accelerate progress towards decarbonisation.
Airlines can utilise the aggregate data to benchmark their own decarbonisation efforts and share their progress with stakeholders, such as governments, investors, and customers, using the Net Zero Tracking Methodology.
Hong Kong’s aviation industry is showing promising signs, thanks to China’s earlier-than-anticipated reopening, which has provided a significant boost to passenger recovery. While the demand for air travel remains strong, airlines in Hong Kong have encountered challenges related to supply chain issues and a scarcity of labour.
Key features of the Net Zero Tracking Methodology include a standardised framework for transparent reporting, best practices for data collection and validation with minimal administrative burden, and the ability to report various decarbonisation activities on a lifecycle basis, including the use of sustainable aviation fuel, carbon offsets/capture, and future power sources.While the report and methodology encourage collaboration and sharing of best practices, they also enable benchmarking that can drive further decarbonisation efforts and innovation within the industry.
Further, the Track Zero report aligns with IATA’s five roadmaps addressing critical actions in aircraft technology, energy infrastructure, operations, finance, and policy, all aimed at achieving net zero CO2 emissions by 2050.
These roadmaps, together with the insights from the Track Zero report, practical experience, and emerging technologies, will guide the aviation industry in setting interim milestones on the path to net zero.
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