In Belgium, Skift reported that Paul Abbott, CEO of American Express Global Business Travel, said that 300 sustainable aviation fuel plants would need to be built, if the industry wanted to get to 10% sustainable fuel by 2030.
The executive noted that these SAF production plants take five years to build, and cost $300 million each.
Speaking at the Global Business Travel Association’s inaugural Sustainability Summit, held in Brussels earlier this week, Abbott said the industry now needed to figure out how to find $90 billion, with a decision needed to be taken this year or next, in order to start building the plants in 2024 or 2025.
“That’s respectfully what I think we should be doing as an industry, and what we should be doing across the public and private sector is figuring out where do we get that $90 billion, and where are we going to build those production facilities,” he said. “And that will decarbonize large parts of the the industry.”
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