ICAO and IRENA partner on decarbonisation funding and investment

The International Civil Aviation Organization (ICAO) and the International Renewable Energy Agency (IRENA) have signed a landmark agreement to boost financing opportunities for sustainable aviation fuels (SAF) and other cleaner aviation energy projects.

A Memorandum of Cooperation signed by both organisations will increase their facilities to target financial resources for scaling up SAF, Lower Carbon Aviation Fuels (LCAF), and other cleaner energy solutions. This will, in turn, operationalise the ICAO Finvest Hub – a platform designed to connect aviation decarbonisation projects with potential private and public investors as well as other funding resources.

The Finvest Hub is expected to play a crucial role in facilitating the matchmaking between the financing needs of project developers and the financing priorities of States, multilateral development banks and private financers. The Memorandum of Cooperation will allow the Finvest Hub to benefit from IRENA’s Energy Transition Accelerator Financing (ETAF) Platform, providing an opportunity to accelerate the energy transition of the aviation sector worldwide.

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