By Sam Meredith -CNBC
Air New Zealand on Tuesday dropped its 2030 climate goal, citing delivery delays of fuel-efficient aircraft and the affordability of alternative jet fuels.
The announcement reflects the scale of the industry’s challenge to meet its decarbonization goals.
Air New Zealand also confirmed its intention to immediately withdraw from the Science Based Targets Initiative.
Air New Zealand on Tuesday dropped its 2030 climate goal, citing delivery delays of fuel-efficient aircraft and the affordability of alternative jet fuels.
The announcement means that New Zealand’s national flag carrier has become the first major airline to water down its near-term climate aspirations, a move that reflects the scale of the industry’s challenge to meet its decarbonization goals.
Air New Zealand CEO Greg Foran said in a statement that it has become apparent in recent weeks “that potential delays to our fleet renewal plan pose an additional risk to the target’s achievability.”
“It is possible the airline may need to retain its existing fleet for longer than planned due to global manufacturing and supply chain issues that could potentially slow the introduction of newer, more fuel-efficient aircraft into the fleet,” Foran said.
“As such and given so many levers needed to meet the target are outside our control, the decision has been made to retract the 2030 target.”
Air New Zealand had previously said its 2030 target was to reduce carbon intensity by 28.9%, compared with 2019 levels. The airline said Tuesday that work has begun on a new near-term target.
