VmoAir – Sangeet Nepal – 2022
Goals
VMO Aircraft Leasing wanted to explore feasible and effective measures to alleviate its climate impact in becoming a sustainability leader in the leasing industry. In doing so, VMO engaged Sangeet to research possible technological measures, market measures, climate-related risks, opportunities, and target-setting methods to accelerate VMO’s journey to a low-carbon economy.
Solutions
Based on researching aviation companies’ sustainability reports, aviation research reports and technological developments, Sangeet identified three categories of solutions recommended for VMO’s road to decarbonization mentioned hereafter.
- Sustainable Investing: Purchase new generation aircraft, invest in Advanced Air Mobility (AAM) development projects, Sustainable Aviation Fuel (SAF) producing projects and hydrogen propulsion.
- Collaboration and Engagement: Establish partnership with airlines and relevant actors in promoting production and usage of SAF and promote subscription of state-of-the-art tools to improve air and ground operational efficiency.
- Reporting and Target Setting: Publish inaugural sustainability report by 2024, prepare for climate-related financial disclosures under TCFD framework, and apply for science-based target initiative (SBTi).
Potential Impact
VMO could ultimately achieve a portfolio comprised of 100% new generation aircraft and facilitate the use Sustainable Aviation Fuel corresponding to the supply target set by ICAO. This would allow VMO avoid up to nearly 48 million tonnes of CO2 from 2023 through 2050. Similarly, VMO could minimize its emission even more by investing in electric aircraft, battery technology and hydrogen propulsion technology. Further, VMO could apply for science-based target validation for scope 3 emissions to help align the company to a 1.5°C ambition level.
