Reuters reports that the aviation industry “is split on whether it can meet its climate targets[,] with almost a third of its sustainability executives predicting it will miss a mid-century deadline, a survey commissioned by GE Aerospace suggested on Thursday.” Most “believe the industry will meet its objectives by 2055.” The industry “set a 2050 goal of net zero emissions in 2021,” and plans to rely on SAF to meet climate targets. Environmental critics “say the targets are unrealistic due to the low level of SAF available and argue the only way to reach them is to substantially reduce flying globally.” GE Aerospace VP of Commercial Programs Strategy Allen Paxson said the survey “is trying to show that this is ambitious, (but) it’s not going to be easy. … It’s a sign that people are taking it really seriously.”
Full Story (Reuters)
Tag: Split
GE to Split into Three Companies
Bloomberg reports that General Electric is to split up into three separate companies, each “focused on health care, power and aviation.” The healthcare division “will be spun off in early 2023.” GE’s “renewable energy, power equipment and digital businesses” will be combined into a separate unit “that will then be spun off in 2024.” The remaining company will be GE Aviation, “the company’s engine-manufacturing operation.”
Full Story (Bloomberg)