Airline industry, having faced severe repercussions from the
COVID-19 pandemic due to widespread border closures, is now poised
for a notable financial recovery. This industry net profits are
expected to reach $9.8 billion in 2023 which is more than double
the previous forecast of $4.7 billion in December 2022 as reported
by the International Air Transport Association
(IATA)1.
While the industry aims for a swift recovery, it confronts
formidable challenges from environmental, social, and governance
(ESG) perspectives. Scientists have issued a dire "final
warning" on the climate crisis, emphasizing the urgent need
for decisive action to mitigate the irreversible damage caused by
escalating greenhouse gas (GHG) emissions2. Despite the
economic allure of the aviation sector, there is a pressing need to
prioritise ESG considerations to prevent further financial losses,
particularly in the face of potential environmental
catastrophes.
