Long-haul carrier Emirates launches $200M fund to reduce fossil fuel use in aviation
Long-haul carrier Emirates said Thursday it would create a $200 million fund for research and development projects aimed at reducing the use of fossil fuels in commercial aviation.
Emirates made the announcement ahead of releasing their annual report for 2022.
The airline, owned by Dubai's government, said the funding would be distributed over three years.
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"It's clear that with the current pathways available to airlines in terms of emissions reduction, our industry won't be able to hit net zero targets in the prescribed timeline," airline President Tim Clark said in a statement. "We believe our industry needs better solutions, and that's why we're looking to partner with leading organizations."
Emirates separately will aim to use so-called sustainable aviation fuel as well when possible — though it remains incredibly scarce in the market. In January, the airline successfully flew a Boeing 777 on a test flight with one of its two engines entirely powered by the fuel.
The announcement also comes ahead of Dubai hosting the COP28 climate talks in November.
