Airlines will come under greater pressure to publicise their sustainability efforts
Étude de marché 6 décembre 2023 6 décembre 2023
Predictions 2024 - Geopolitical Risk
Remaining silent is no longer an option as stakeholders look to see concrete actions.
Airlines are increasingly facing pressure to put in place a sustainability roadmap and to have it ready for public scrutiny. Previously airlines might have considered it sufficient to offer add-ons to tickets where customers could contribute to the purchase of SAF or to an offsetting programme. However, rapid change in customer expectations will undoubtedly see a shift in their sustainability efforts in the coming year.
This shift will also be driven by incoming regulation such as the new EU Corporate Sustainability Reporting Directive, which will require companies (including airlines) to report on the sustainability of their operations and existing requirements in the US by the SEC. In the UK, the Sustainability Disclosure Standards will similarly require disclosure on sustainability-related risks and opportunities for companies. These standards are expected to be consistent with other global initiatives and will be published in 2024.
Greenwashing allegations have also become more commonplace over the past few years, making it clear that consumers and NGOs are closely watching the aviation industry and want to see concrete action being taken to improve sustainability. However, this should not encourage ‘green hushing’, which is the practice of having a company downplay or not widely spread its sustainability efforts.
Instead, it is predicted that airlines continuing to stay silent in the face of growing climate urgency, will face worse repercussions than those who openly engage with customers and NGOs to set out and follow a climate-mitigation strategy. This is particularly true as regulation continues to shift towards ensuring the transparency and accountability of companies in their sustainability efforts. 2024 is likely to be a year for ‘planning’ and ‘doing’ as airlines seek out ways to do more to reduce or mitigate their emissions whilst continuing to grow their business.