Taking another step toward a more sustainable future for international air travel, the Oneworld alliance is joining forces with Breakthrough Energy Ventures to set up a novel investment fund dedicated exclusively to next-generation Sustainable Aviation Fuel (SAF). Endorsed by prominent member carriers, including Alaska Airlines, American Airlines, and others, the fund is designed to accelerate the development of aviation fuel technologies capable of significantly diminishing air travel’s ecological footprint.
Oneworld BEV Fund Invests USD 150 Million in Sustainable Aviation Fuel
The newly established Oneworld BEV Fund, with an initial close of USD 150 million, sets its sights on addressing the challenges of current aviation fuels. By investing in innovative SAF technologies, the fund is poised to create a greener, more sustainable aviation industry for future travellers.
The aviation industry, which contributes nearly 2-3 percent of global carbon emissions, faces mounting pressure to reduce its environmental footprint. This collaborative effort between Oneworld and BEV marks a critical step towards ensuring the aviation sector can meet its sustainability goals. By focusing on scalable, cost-effective SAF solutions, the fund seeks to transform how airlines fuel their fleets, offering a path to significantly reduce jet fuel-related carbon emissions.
The Role of Oneworld and BEV in Advancing SAF
This investment fund is not just about creating environmentally friendly alternatives but also about fostering a resilient SAF supply chain. With the backing of the Oneworld alliance’s member airlines, including British Airways, Cathay Pacific, and Japan Airlines, as well as non-alliance partner Singapore Airlines, the fund is designed to accelerate the development and market adoption of SAF technologies globally .
The global aviation market currently faces limited production of SAF at prices competitive with conventional jet fuel, hindering its widespread adoption. This fund will support the growth of SAF technologies that are capable of reducing lifecycle emissions of jet fuel by up to 80 percent compared to traditional fossil fuels. The initiative aims to lower the costs of SAF, ensuring it becomes a viable, mainstream solution for airlines worldwide, especially as air travel demand continues to rise in the coming decades .
Impact on Travellers: Cleaner, Greener Journeys Ahead
For travellers, this collaboration signals an exciting shift towards greener air travel. With advancements in SAF, the aviation industry is setting a course for significantly reduced carbon footprints in the years to come. This is particularly significant as sustainability becomes an increasing concern for global travellers who are seeking more eco-conscious options in all areas of life, including how they get from one destination to another .
The Oneworld BEV Fund aims to generate substantial economic value, fostering new job opportunities in emerging green technologies while helping regions worldwide develop and deploy SAF. By investing in these technologies, the fund helps ensure that consumers can access travel options that support the environment without compromising their experience or convenience .
The partnership with Breakthrough Energy Ventures, a firm renowned for its expertise in clean energy investments, will provide the fund with the technical and commercial knowledge needed to drive success. The fund is committed to finding scalable SAF solutions that will integrate seamlessly into today’s aviation infrastructure, ensuring a smooth transition from conventional fuels to greener alternatives .
A Collaborative Effort for a Sustainable Aviation Future
In a rare show of industry collaboration, Oneworld and its partners have made it clear that they see sustainability not as a competitive edge but as a collective responsibility. By combining their resources, expertise, and global reach, the alliance and its partners are setting the stage for a large-scale transformation in the aviation sector .
The airline industry’s goal of achieving net-zero emissions will require cooperation across borders, industries, and sectors. As the demand for air travel increases, SAF is poised to play a crucial role in helping the aviation industry meet its environmental targets while maintaining the capacity to serve growing traveller demand .
A Greener Tomorrow for Aviation
This innovative collaboration between Oneworld and Breakthrough Energy Ventures reflects a broader trend in the travel industry, where environmental sustainability is becoming an essential priority. For the global aviation sector, this marks a pivotal step towards the decarbonisation of air travel. As travellers seek eco-friendly options, the industry’s investment in sustainable fuel technology ensures that the skies of tomorrow will be greener and more sustainable. The Oneworld BEV Fund is setting the stage for a future where air travel contributes to, rather than detracts from, the planet’s well-being .
Across the aviation industry, a remarkable coalition is forming, teaming airlines, manufacturers, and governments to roll out new technologies and practices already driving us toward a sustainable future. By embracing and expanding the global sustainable aviation fund, the sector is demonstrating collaborative leadership here and ultimately showing the travel community how to bring environmental promise to life. When the fund progresses and cost-parity sustainable aviation fuels become the norm, tomorrow’s flyers will find that the skies promise not only convenience and adventure, but also a dramatically reduced carbon footprint.
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