ICAO launches SAF project investment portal

The International Civil Aviation Organization and the International Renewable Energy Agency have launched an investment portal to connect sustainable aviation fuel decarbonization projects with investors. The portal is part of ICAO’s Finvest Hub, which aims to accelerate global deployment of sustainable aviation fuels (SAF). The Energy Transition Accelerator Financing (ETAF) platform, led by the International Renewable Energy Agency (IRENA), is a multistakeholder climate finance program designed to mobilize more than $4 billion annually by 2030 for renewable energy projects in developing countries, according to ICAO. [caption id="attachment_89599" align="aligncenter" width="1204"] (Photo/CanStock)[/caption] The Finvest@ETAF portal helps more SAF projects join ETAF’s global pipeline of renewable energy opportunities, ICAO said. ICAO will join several financing platforms to run Finvest Hub, with IRENA the first to sign on, according to a release today from ICAO. The Finvest@ETAF portal “is a first-of-its-kind gateway between project developers and financiers,” ICAO Secretary General Juan Carlos Salazar said in the release. “This matchmaking function, using ICAO’s sustainability criteria, helps de-risk investments while ensuring environmental integrity.” Project developers worldwide are invited to submit proposals to the portal . “The success of Finvest@ETAF will depend on a strong pipeline of projects from every region,” Salazar said. The portal was launched at the ICAO Innovation Fair, running Sept. 21-22 in Montreal. The fair precedes the 42nd ICAO Assembly, which runs Sept. 23-Oct. 3 in Montreal. ICAO is a United Nations agency that sets international standards and facilitates cooperation among members for aviation safety, security, efficiency and sustainability. IATA’s hopes for ICAO Assembly IATA aims to prioritize safety, sustainability and efficiency at the assembly. “It is critical that we secure stronger support for SAF production and CORSIA as key enablers of aviation’s commitment to achieve net zero emissions by 2050,” IATA Director General Willie Walsh said in a Sept. 17 release from IATA. “And we must shore up safety with timely accident reports, mitigations for GNSS [Global navigation satellite system] interference and preservation of critical radio frequency spectrum.” Under CORSIA, or Carbon Offsetting and Reduction Scheme for International Aviation , airlines are obliged to purchase and cancel eligible emissions units (EEU) to offset the increase in carbon emissions covered by the scheme. The EEUs must meet eligibility criteria defined by ICAO. One EEU equates to one tonne of carbon emissions reduction. Global navigation satellite system (GNSS) spoofing and jamming have increasingly threatened the integrity of positioning, navigation and timing services globally in recent years, according to a February 2024 release from IATA and EASA. Jamming occurs when a satellite signal is blocked and spoofing occurs when a satellite signal is replaced by an undesired signal transmitting false information. “Everybody wants flying to be safe, efficient and more sustainable,” Walsh said. “The criticality of global standards to global aviation cannot be underestimated. I am optimistic for the outcomes of this assembly.” Working papers ICAO has accepted fourteen IATA-authored working papers to be discussed at the assembly. Related to sustainability, IATA has entered papers about SAF production and CORSIA , requesting that ICAO increase economic incentives for SAF production and that it reaffirm its commitment to the CORSIA program and make enough EEUs available to airlines to enable them to fulfill their CORSIA obligations. Accident investigations, with IATA has also requested that ICAO enforce its regulation that final accident reports must be filed within one year of the accident and support capacity building for states’ insufficient accident investigation resources. Regarding GNSS interference, IATA requests that ICAO promote better coordination between military and civil aviation authorities to provide airlines with timely risk information; promote better reporting and detection; develop interference-proof avionics; and implement contingency planning and training for all stakeholders. IATA also requests that ICAO strengthen coordination among telecom and aviation regulators to protect safety-critical frequencies. Cargo Facts Symposium, the quintessential event for stakeholders and key leaders in the global freighter and air cargo industries, will take place Oct. 22-24 at the Grand Hyatt in Nashville . Learn more and register today to attend this key industry event.

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