ABU DHABI, UAE – First Abu Dhabi Bank (FAB) is hosting a one-day summit that brings together aviation thought leaders and industry stakeholders to explore economic development opportunities as the sector transitions to net-zero.
The Aviation Sector Summit, held in collaboration with Boston Consulting Group (BCG), consist of talks, panel discussions, and presentations that focus on overcoming challenges related to decarbonization and unlocking the economic and development opportunities arising from the transition to a net-zero economy.
FAB, which recently announced that it would set financed emissions reduction targets across oil and gas, power generation, and aviation, believes that the Summit will help the global aviation sector achieve its net-zero ambition.
The summit will examine how the aviation sector will play a crucial role in supporting the UAE’s objective to achieve net-zero by 2050.
Participants will include aviation stakeholders from both the public and private sectors.
Martin Tricaud, Group Head of Investment Banking at FAB, said, “The decarbonization of the global aviation sector is not optional but necessary if the world is to reach its collective climate objectives.”
He said, “Here in the UAE, the aviation and tourism industries are key pillars of the economy representing 13 percent of national GDP – so there’s a unique opportunity for the entire ecosystem to collaborate and to drive sustainable outcomes that will shape the entire global economy.”
He added, “At FAB, we’re playing our part by financing fleet renewals with next-generation aircraft; we’re supporting the widespread adoption of Sustainable Aviation Fuel; and we’re encouraging our aviation clients to use high-quality offsets for residual emissions.”
Tricaud said, “We’re fully committed to supporting and investing in the aviation sector as it embarks on its journey towards carbon neutrality by 2050.”
FAB has a strong track record of climate action through its innovative sustainable financing solutions and advisory services – and has set a target of US$75 billion for the period of 2022 to 2030, of which $15 billion was achieved by Q1 23.
The FAB Aviation Summit is the first in a series of planned sector focused summits to be held in 2023 where FAB will also hold similar summits for oil and gas, power generation, and construction.