🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

UPDATE 1-Airbus reports emissions data amid climate pressure

Published 2021-02-26, 03:06 a/m
© Reuters.

(Adds reaction)

By Tim Hepher

PARIS, Feb 26 (Reuters) - European planemaker Airbus on Friday joined a growing list of companies outlining the environmental impact of their products, as aviation aims to reshape itself after the coronavirus crisis.

Major companies are under increasing pressure from investors and climate change activists to report the emissions that result when customers use their products, known as "Scope 3".

Airbus says it is the first planemaker to do so.

It says it is driving aerospace toward zero-emission flying with plans for a commercial aircraft powered by hydrogen by 2035, which it reaffirmed on Friday.

But environmentalist groups say that flying itself needs to be curbed to have a meaningful impact on climate change.

Airbus estimated lifetime emissions for jets built in two dramatically different years: 2019, which saw record deliveries on the back of an order boom, and 2020, when the pandemic sent aviation into crisis and forced Airbus to slash output by 40%.

For the 863 jets it delivered in 2019, Airbus estimated lifetime emissions of 740 million tonnes of CO2 equivalent based on an average aircraft lifespan of 22 years. That includes 130 million tonnes related to the production of fuel burned in flight.

In 2020, it delivered 566 aircraft with estimated lifetime emissions of 440 million tonnes, including 80 million for fuel.

Airbus also published carbon intensity data suggesting an "average efficiency" of 66.6 grammes of CO2e per passenger-kilometre in 2019, improving to 63.5g in 2020.

A senior Airbus official said the data included conservative assumptions for synthetic fuels, whose use is expected to grow.

Intensity-based targets measure greenhouse emissions relative to industrial output, meaning absolute emissions can rise even if the headline intensity figure falls. ACTION'

Aviation produces 2.5% of human-induced CO2 emissions and 12% of CO2 from transport, the industry says. It has pledged to reduce net carbon emissions to 50% of 2005 levels by 2050.

"The scale of the emissions disclosed underlines the need for governments to take drastic action to rein in the climate impact of flying," said Andrew Murphy, aviation director for Brussels-based environmentalist group Transport & Environment.

Airbus did not provide data for non-CO2 emissions, which some scientists deem at least as much of a threat as CO2. But it said it was working on initiatives that have been promoted to help address this, including improved air traffic management.

Airbus also reported emissions from its factories, giving a glimpse of a multinational network linked by boats, trucks, barges and huge cargo planes.

Its own CO2 emissions decreased by about 20% last year amid the pandemic, and Airbus purchased 21% less water in Europe. It also produced 25% less waste and potentially damaging vapours.

Airbus aims to consume 20% less energy and emit 40% less CO2 from its more than 70 sites by 2030, compared with 2015.

French jet engine maker Safran SAF.PA on Thursday issued some Scope 3 emissions for business air travel and waste, and pledged to expand this to the use of its engines later in 2021.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.