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To promote sustainability, Airbus India chief Jurgen Westermeier on Thursday pitched for bringing corporates' spending on airlines' voluntary sustainable aviation fuel programmes under the government's CSR framework. Under the companies law, certain class of profitable entities are required to shell out at least two per cent of their annual profit towards Corporate Social Responsibility (CSR) activities in a financial year. The President and Managing Director for India and South Asia said that the voluntary corporate SAF (Sustainable Aviation Fuel) programmes launched by airlines represent a direct, measurable investment in climate change mitigation. "We urge the government to recognise the funds spent by corporates on voluntary SAF contributions as a valid expenditure under their mandatory CSR obligations. "Such an inclusion would immediately unlock a substantial, new pool of capital to support SAF demand, instantly turning a compliance requirement into a powerful engine for a green and sovereign energy future" he said in the national capital.Live Events India, one of the world's fastest growing civil aviation markets, has significant potential for producing SAF. According to him, SAF can also be a powerful economic enabler. He also stressed on the need for unprecedented collaboration across all stakeholders -- government, industry and academia. "By developing a domestic SAF industry, India can immediately and effectively enhance its energy security and sovereignty over its fuel supply chain," Westermeier said and added that the SAF industry will require significant investments. Citing projections, he said 1.1-1.4 million jobs could be created across the entire SAF value chain while also productively utilising an estimated 230 million tonne of surplus agricultural residue.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onairbus indiasustainable aviation fuelsaf indiacsr policy indiagreen aviationcorporate social responsibilityairbus india chief jurgen westermeierclean energy investmentaviation sustainabilityindia green fuel industry (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onairbus indiasustainable aviation fuelsaf indiacsr policy indiagreen aviationcorporate social responsibilityairbus india chief jurgen westermeierclean energy investmentaviation sustainabilityindia green fuel industry(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
