Rolls-Royce creates blueprint for net-zero emissions target by 2050

Rolls-Royce creates blueprint for net-zero emissions target by 2050

by Nandita Bhardwaj

British aircraft and ship engine manufacturing company, Rolls-Royce Holdings plc, is reportedly creating a blueprint to reach its zero-emissions goal by 2050, through heavy investments in decarbonizing technologies and incorporation of more sustainable aviation fuel.

Major companies have been facing heat from climate change activists and investors to report emission levels of their products when used by end-consumers.

Chief Executive Officer at Rolls-Royce Holdings, Warren East, was quoted saying that decarbonizing poses to be a particularly ‘challenging task’ for the company, given its extensive fossil fuel use and the increasing global demand for power.

East also added that Rolls-Royce is outlining plans for all its new products to be in accordance with net-zero targets by 2030, en route to achieving net-zero emissions across the whole business chain by 2050 at the latest.

In the aviation segment, its largest business, Rolls-Royce is planning to make commercial engines with 100% compatibility for sustainable aviation fuels (SAF), ensuring 70% fewer carbon emissions as compared to conventional fuel by 2023.

If reports are to be believed, the aerospace & defense company is looking to create less carbon-intensive electric, hydrogen, or hybrid solutions for the long term.

Chief Technology Officer at Rolls-Royce Holdings, Paul Stein, reportedly said that the company is in the process of discussing hydrogen with the multinational aerospace corporation, Airbus SE.

He further stated that, by the mid-2030s, Rolls-Royce might start harnessing its small modular reactors to produce an e-fuel, that will act as a substitute to sustainable aviation fuels.

Rolls-Royce is currently spending over 50% of its budget on research & development of low carbon and net-zero technologies. To ensure that it reaches its target by 2050, the company will increase R&D spending to over 75% of its total budget by 2025, cited sources close to the matter.

Source Link –

https://www.globalbankingandfinance.com/rolls-royce-outlines-plans-for-net-zero-emissions-by-2050/

Nandita Bhardwaj

Having a marketing management post graduate degree under her belt, Nandita spent considerable time working in the field of recruitment. However, her real interest lay in playing with words and soon enough, she commenced her career in the field of content creation. Currently, she authors insightfu Read more...