Andersen: 2024 is on track to be warmest on record..Financing must up at least 3.5 times
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The Singapore Airlines (SIA) Group announced its commitment to achieve net zero carbon emissions by 2050, reinforcing its long-standing strategy of working towards decarbonization and environmental sustainability across its operations.
The Group’s airlines, Singapore Airlines, Scoot and SIA Cargo, will use multiple levers to achieve this goal. These institutions will invest in new-generation aircraft, achieve higher operational efficiency, adopt low-carbon technology such as sustainable aviation fuels, and source for high quality carbon offsets.
SIA Group has pursued multiple projects in support of its sustainability goals even amidst the Covid-19 pandemic. For example, the Group completed the installation of solar panels on all of its office buildings in Singapore. This generates renewable energy that provides up to 18 percent of its electricity demand, or enough to power around 2,300 four-room apartments in Singapore for a year.
In 2020, SIA rolled out a new regional Economy Class meal concept that offers increased food choices for customers. It features tableware comprising sustainable paper packaging and bamboo cutlery, reducing the amount of single-use plastics in the cabin. This packaging weighs 50 percent less, helping to lower fuel consumption. Everything from the tableware to the food waste will be sent to an eco-digestor to be converted to refuse-derived energy pellets that can replace fossil fuels and coal.
Mr Goh Choon Phong, Chief Executive Officer, Singapore Airlines, said: “We have remained focused on our sustainability goals even as we navigated the Covid-19 pandemic. We know that this is also an increasingly important issue to both our customers and staff. With today’s pledge to achieve net-zero emissions, we buttress the SIA Group’s leadership position on this topic and reinforce our commitment to finding ways to tackle our impact on the environment.”
“Today, the most effective and direct way for an airline to materially lower carbon emissions is by operating a young fleet of aircraft. The SIA Group’s fleet has an average age of under six years, making it one of the youngest in the world. Over the last year, we have retired 45 older aircraft. We will be gradually replacing them with new-generation aircraft that are up to 30 per cent more fuel efficient, and will substantially lower our emissions in coming years.”
“However, we can’t achieve our goals on our own. We will continue to collaborate with governments, the airline industry, and partners such as aircraft manufacturers, technology providers, and fuel suppliers, both in Singapore and around the world. We must work together to push the envelope, and find innovative solutions that help us meet our targets on this journey.”
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