The International Civil Aviation Organization (ICAO) announced the launch of ICAO Finvest Hub, a new platform aimed at securing funding for aviation sustainability projects, such as sustainable aviation fuel (SAF) production, clean energy infrastructure and decarbonization initiatives, by connecting projects with investors worldwide.

According to the ICAO, SAF, lower carbon aviation fuels (LCAF), and other cleaner energy solutions are expected to be a significant focus for the new platform, given the expectation that these solutions are expected to contribute significantly to the goal for international civil aviation to achieve net zero carbon emissions by 2050.

Fuel accounts for the vast majority of the aviation sector’s emissions. Generally produced from sustainable resources, like waste oils and agricultural residues, SAF is seen as one of the key tools to help decarbonize the aviation industry in the near- to medium-term. SAF producers estimate the fuels can result in lifecycle GHG emissions reductions of as much as 85% relative to conventional fuels. Efforts to meaningfully increase the use of SAF by airlines face significant challenges, however, including the low supply currently available on the market, and prices well above those of conventional fossil-based fuels, with SAF accounting for only around 0.5% of global commercial fuel use in 2024.

The ICAO said that the new hub will provide critically important support to the efforts to scale up aviation decarbonization solutions, including the need to scale up SAF production and deployment to meet demand.

ICAO Council President Salvatore Sciacchitano said:

“The success of aviation’s environmental transition depends on strong partnerships and accessible funding, particularly for developing States. The establishment of the Finvest Hub exemplifies the power of international cooperation in addressing our shared environmental responsibilities. Through this platform, we are acting on our commitment to achieve net-zero carbon emissions by 2050, while implementing the Global Framework for Sustainable Aviation Fuels adopted in Dubai.”

Key functions of the new platform, according to the ICAO, will include connecting projects contributing to the decarbonization of international aviation with potential public and private investors, creating pathways to the funding of aviation decarbonization projects, prioritizing the provision of support to developing countries and states facing unique challenges in financing projects, as well as actively engaging with governments, financial institutions, and private sector stakeholders to encourage and accelerate access to new and additional funding for projects contributing to the decarbonization of international aviation.

ICAO Secretary General Juan Carlos Salazar said:

“The Finvest Hub introduces access to new financial mechanisms specifically designed for aviation sustainability projects. By connecting technical expertise with innovative financing solutions, we’re creating practical pathways to increase production of sustainable aviation fuels and other cleaner energy sources. These projects will serve as engines of economic growth while advancing environmental protection across our Member States.”