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illuminem summarizes for you the essential news of the day. Read the full piece on Financial Times or enjoy below:
🗞️ Driving the news: EU regulators have initiated an investigation into 20 airlines over potential greenwashing practices, focusing on their claims regarding offsetting emissions from flying
🔭 The context: The investigation scrutinizes statements made by airlines about reducing carbon emissions through environmental projects or sustainable aviation fuels, as these fuels still emit carbon but are less polluting than conventional jet fuels
• The probe is part of a broader regulatory crackdown on green claims in corporate marketing, following recent actions against airlines in Europe
🌍 Why it matters for the planet: The airline industry's environmental impact is significant, accounting for around 4% of the EU's greenhouse gas emissions
• Ensuring truthful, science-based claims from airlines about their sustainability efforts is crucial for guiding consumer choices and pushing the sector toward genuinely reducing its carbon footprint
⏭️ What's next: Airlines are asked to propose solutions to address the concerns within 30 days
• National authorities hold the power to sanction companies that fail to make necessary adjustments, and the investigation reflects a wider movement towards enforcing transparent sustainability efforts in aviation
💬 One quote: The European Commission noted, "The airlines are yet to clarify whether such claims can be substantiated based on sound scientific evidence."
📈 One stat: No major European airline has submitted a climate target ambitious enough to help limit global warming to 1.5C above pre-industrial levels, according to the Science-Based Targets initiative.
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