Qantas will establish an A$400 million (US$260.8 million) climate fund to invest in sustainability projects and technologies as the carrier works toward its emissions-reduction targets, the airline announced Tuesday.
The fund will include A$290 million from the partnership announced last year between Qantas and Airbus to accelerate a domestic sustainable aviation fuel industry in Australia, plus an additional A$110 million from Qantas for other environmental projects, including “high-integrity” carbon offsets, offshore SAF investments and operational efficiency technologies, according to the carrier.
Qantas has committed to reducing carbon emissions by 25 percent by 2030 based on 2019 levels and using 10 percent SAF in the company’s fuel mix by 2030. It has a goal of net zero emissions by 2050. Last year it also launched a corporate SAF purchase program.
