In Canada, the International Civil Aviation Organization (ICAO) and the International Renewable Energy Agency (IRENA) have signed an agreement to boost financing opportunities for sustainable aviation fuels and other cleaner aviation energy projects. The Memorandum of Cooperation signed by ICAO Secretary General Juan Carlos Salazar and IRENA Director General Francesco La Camera at the G20 Energy Ministerial meeting in Foz do Iguaçu, Brazil, will allow the exploration of pathways to operationalize the ICAO Finvest Hub by facilitating the identification of financial resources for scaling up SAF, Lower Carbon Aviation Fuels (LCAF), and other cleaner energy solutions. “The aviation clean energy transition is fundamental to achieving our net-zero Long-Term Global Aspirational Goal (LTAG), as it has the potential to contribute to the majority of required emissions reductions. This new cooperation with IRENA is an opportunity to accelerate the energy transition of the aviation sector worldwide,” said ICAO Secretary General Salazar. “ICAO is fully committed to supporting the four building blocks needed to achieve this goal – policy and planning, regulatory frameworks, implementation support, and financing.” The IRENA Director-General Francesco La Camera added: “We are delighted to partner with ICAO to mobilize investment in renewable energy and decarbonization projects in the aviation industry. Through the IRENA Energy Transition Accelerator Financing (ETAF) Platform, we find climate finance solution dedicated to advancing the global energy transition by facilitating investment. The global energy transition needs all hands on deck and this cooperation is a clear expression of it.”
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