The International Air Transport Association (IATA) estimates that decarbonizing the airline industry by 2050 will cost $4.7 trillion, with annual costs rising from $1.4 billion in 2025 to $744 billion by 2050. With such numbers involved it’s no surprise that the aviation industry is late to the party – as it was to the Paris agreement in 2015. Oil majors backtracking on SAF developments are also not a big surprise given that these companies need to compete with themselves to shift the sector from using kerosene to using SAF. Some of the $4.7 trillion is down to SAF production and supply chain investment. These figures are outlined in IATA’s updated policy and finance net zero roadmaps. The report emphasizes that…