IGI Logo

Below the Quote on Comment on Praj`s investments in SAF Viswajit Srinivasan, a senior banker and sustainable finance expert of Indian origin based out of UK

Carbon Offsetting and Reduction Scheme for International Aviation [CORSIA] is a global market measure developed by the International Civil Aviation Organisation wherein airlines are able to offset growth in CO2 emissions above 2020 levels. CORSIA applies to international flights while emissions from domestic carriers is covered under UNFCCC and is part of the Paris agreement. India intends to join CORSIA (which is in the voluntary phase currently) from 2027. Praj and   Indian Oil Corporation had entered into a MoU last year to form a JV and produce 400-500 tons of SAF per day. India has a 2-3% share of the global ATF market and given India’s National Biofuels Coordination Committee target of a blend of 2% SAF with jet fuel by 2028, Praj is very well placed to leverage on the opportunities this sector presents. It is estimated that an investment of over $75bn would be needed in the next 15 years for India to produce 10MT of SAF annually. Achievement of this objective would imply a reduction of ice 25m tonnes of CO2 annually.

Above views are of the author and not of the website kindly read disclaimer