Airline body hails Big Oil backlash as catalyst for green fuels

The increasingly effective green backlash against oil majors by activists and shareholders is a welcome development for the aviation industry as it prepares to raise its own environmental goals, the head of global airline body IATA said Friday. Willie Walsh, DG of the IATA, said that challenges of the kind encountered by Exxon, Chevron and Shell this week could boost investment in the lower-emission fuels so desperately needed by airlines. "I think it's great that the oil industry has been criticised. Anything that accelerates the production of sustainable fuels is a positive," Walsh said. Oil majors suffered a trio of defeats on Wednesday as 61% of Chevron shareholders demanded end-use emissions cuts and Exxon Mobil saw a pair of activist candidates elected to its board to push climate demands. A Dutch court also ordered drastic emissions cuts by Royal Dutch Shell. The COVID-19 pandemic has increased the focus and pressure on climate emissions, said Walsh, the former boss of BA and its owner IAG. Global airlines that have so far pledged to halve net emissions by 2050 will be asked to go further at IATA's annual meeting in October, Walsh said, confirming indications given by his departing predecessor, Alexandre de Juniac. Walsh said the previous 2009 goal had been overtaken by the Paris Agreement and resulting pledges from governments and companies - including many airlines - to eliminate net emissions by mid-century. "Anything less than net-zero by 2050 will be disappointing for the industry and will leave us open to criticism that we're not doing enough," he said while acknowledging that some states including China still consider the target too ambitious.<br/>