{"id":6803,"date":"2025-02-14T15:56:31","date_gmt":"2025-02-14T15:56:31","guid":{"rendered":"https:\/\/www.greenairnews.com\/?p=6803"},"modified":"2025-05-12T17:37:45","modified_gmt":"2025-05-12T16:37:45","slug":"icao-formalises-global-investment-hub-for-aviation-sustainability-and-cleaner-fuel-projects","status":"publish","type":"post","link":"https:\/\/www.greenairnews.com\/?p=6803","title":{"rendered":"ICAO formalises global investment hub for aviation sustainability and cleaner fuel projects"},"content":{"rendered":"\n

The International Civil Aviation Organization (ICAO) has established the Finvest Hub, a global platform to connect aviation sustainability projects with potential public and private investors worldwide. It will facilitate dedicated pathways for funding sustainable aviation fuel production facilities, clean energy infrastructure and other aviation decarbonisation efforts, said ICAO. The UN agency said the Hub will actively engage with governments, financial institutions and private sector stakeholders, and prioritise support for developing countries and states that face challenges in financing decarbonisation projects. The Hub was formalised through a Letter of Intent by ICAO Secretary General Juan Carlos Salazar at this year\u2019s Global Implementation Support Symposium (GISS) in Abu Dhabi.<\/strong><\/p>\n\n\n\n

\u201cThe Finvest Hub introduces access to new financial mechanisms specifically designed for aviation sustainability projects,\u201d commented Salazar. \u201cBy connecting technical expertise with innovative financing solutions, we\u2019re creating practical pathways to increase production of sustainable aviation fuels and other cleaner energy sources. These projects will serve as engines of economic growth while advancing environmental protection across our member states.\u201d<\/p>\n\n\n\n

The support for developing countries will take the form of targeted technical assistance, capacity building and guidance on establishing legal and policy frameworks that attract sustainable aviation investments.<\/p>\n\n\n\n

\u201cThe success of aviation\u2019s environmental transition depends on strong partnerships and accessible funding, particularly for developing states,\u201d said ICAO Council President Salvatore Sciacchitano. \u201cThe establishment of the Finvest Hub exemplifies the power of international cooperation in addressing our shared environmental responsibilities. Through this platform, we are acting on our commitment to achieve net-zero carbon emissions by 2050, while implementing the Global Framework for Sustainable Aviation Fuels adopted in Dubai.\u201d<\/p>\n\n\n\n

The Framework<\/a>, agreed by member states at ICAO\u2019s Third Conference on Aviation Alternative Fuels in November 2023, included the future formation of the Finvest Hub as well as an aspirational \u201cvision\u201d that international aviation fuel in 2030 will be 5% less carbon intensive through the use of SAF, Lower Carbon Aviation Fuels (LCAF) and other cleaner energies than fossil fuel used today. To reach this target requires 23 million tonnes of cleaner fuels by 2030, says ICAO.<\/p>\n\n\n\n

It estimates that around $3.2 trillion in investments will be needed for cleaner aviation fuel production if its long-term aspirational goal (LTAG) of net zero emissions from international aviation by 2050 is to be achieved.<\/p>\n\n\n\n

In November 2024, ICAO signed an agreement with the International Renewable Energy Agency (IRENA) that will explore pathways to operationalise the Hub and facilitate the identification of financial resources. The ICAO Secretary General also met with senior representatives from multilateral development banks to promote the Hub, and held meetings with officials from the World Bank, IMF, the European Investment Bank and the Inter-American Development Bank.<\/p>\n\n\n\n

ICAO invites parties interested in participating in the Finvest Hub to email finvest@icao.int<\/a>.<\/p>\n\n\n\n

Recordings of panel sessions taking place at GISS 2025 on financing SAF projects, accelerating SAF production and deployment, and airline sustainability, plus a session with Juan Carlos Salazar of ICAO and Haldane Dodd of the Air Transport Action Group discussing the Finvest Hub, are available on ICAO TV<\/a>.<\/p>\n\n\n\n

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The Finvest Hub Letter of Intent was signed by Juan Carlos Salazar, Secretary General of ICAO, alongside representatives from Airbus, Boeing, the International Power-to-X Hub and GenZero<\/em><\/p>\n\n\n\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

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