Finnair has redefined its climate commitments and set a new science-based target to reduce its carbon emissions intensity (CO2e/RTK) by 34.5 % by 2033 from a 2023 baseline.
The target, validated by the Science Based Targets initiative (SBTi), equates to a reduction of approximately 13% in absolute CO2e emissions, using the parameters that have been established for the period.
SBTi requires airlines to decarbonise within their own operations, and Finnair’s toolkit to reach the target consists of investing in Sustainable Aviation Fuels (SAF) beyond regulatory requirements, further improving operational efficiency, optimising its network, and eventually updating its fleet renewal plan. Increasing the use of SAF accounts for over half of the targeted CO2e reduction for Finnair.
Turkka Kuusisto, Finnair CEO, said: “Progress towards achieving the target will not be linear, as there are still challenges regarding the availability and affordability of SAF, the most important tool in our toolkit over the next ten years. We need to see rapid progress in the SAF market to support the decarbonization initiatives in the aviation industry.
“The Finnair team is committed to doing our part to address the challenges involved, and we will work with dedication and determination towards our new science-based target.”
In connection with setting the new mid-term target, Finnair has reviewed its long-term climate target of achieving carbon neutrality by 2045. After careful consideration, Finnair has decided to align its long-term climate ambition with the industry’s united objective of achieving net-zero carbon emissions by 2050.
Finnair’s previous long-term target was set in 2019, before the heavy losses brought by the COVID-19 pandemic, and before the war in Ukraine led to the closure of Russian airspace and the emission-efficient short route between Europe and Asia.
The carbon neutrality goal was largely based on offsetting emissions, whereas achieving a net-zero target involves a significantly smaller role for offsets. With Finnair’s commitment to science-based targets for CO2 reductions, the focus is on reducing the airline’s own operational emissions, and the long-term aim is aligned with this.
“Right now, our focus is on the next ten years and achieving our science-based target of reducing our CO2e emissions intensity by 34.5% by 2033. At the same time, we continue to support the common goal of the industry to achieve net-zero carbon emissions by 2050 as outlined by the International Air Transport Association (IATA),” Mr Kuusisto said.
