Global Aviation Takes Off Toward Net Zero: IRENA–ICAO Alliance to Power Sustainable Fuel Revolution

In a landmark step toward decarbonizing the skies, the International Renewable Energy Agency (IRENA) and the International Civil Aviation Organization (ICAO) have joined forces to launch ‘Finvest@ETAF’, a dedicated financial matchmaking hub for Sustainable Aviation Fuels (SAF) and clean energy projects in aviation.

Hosted on IRENA’s Energy Transition Accelerator Financing (ETAF) platform, the initiative was unveiled ahead of the 42nd ICAO Assembly in Montréal, marking a pivotal moment in the industry’s transition toward a low-emission future.

Fueling the Flight to Net Zero

According to ICAO, SAF could deliver 40–65% of the aviation sector’s emission reductions by 2050, making it one of the most crucial levers for achieving IRENA’s 1.5°C climate scenario. While efficiency measures and demand management remain essential, large-scale deployment of SAF will be the cornerstone of aviation’s decarbonization roadmap.

IRENA Director General Francesco La Camera emphasized the transformational potential of SAF: “Sustainable aviation fuels will shape the future of flight, but the sector has yet to take off at the scale needed. By leveraging IRENA’s financing network and ICAO’s technical expertise,

"‘Finvest@ETAF’ will support SAF projects across their lifecycle and connect them with investors ready to deploy capital.”

Connecting Projects with Capital

The Finvest@ETAF portal aims to serve as a global entry point for clean aviation investment, linking credible project developers with a broad network of public and private financiers.

ICAO Secretary General Juan Carlos Salazar described it as a “first-of-its-kind gateway” designed to de-risk investments and ensure environmental integrity through ICAO’s sustainability criteria.

The joint IRENA–ICAO review process will combine technical due diligence and investment readiness assessments, ensuring only bankable, high-impact proposals reach funding partners.

Momentum Ahead of COP30

The initiative comes at a critical juncture as nations gear up for COP30 in Belém, Brazil, where sustainable fuels are expected to feature prominently in global climate negotiations.

By bridging the gap between innovation and investment, Finvest@ETAF aims to turn clean aviation from a niche ambition into a mainstream reality—paving the way for a future where flight and sustainability can truly coexist.