Airport Investor IFM to Bet A$1 Billion on Clean Fuel Expansion
- IFM’s outlay on sustainable jet fuel may climb to A$2 billion
- Pledge is one of largest yet as aviation races to decarbonize
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IFM Investors Pty, the Australian asset manager with stakes in airports from Sydney to London, plans to spend more than A$1 billion ($651 million) ramping up domestic production of sustainable aviation fuel.
Depending on the amount of feedstock available to make the fuel, IFM’s investment — one of the largest financial commitments yet in an area that’s key to decarbonizing air travel — could swell to A$2 billion within five years, Danny Elia, the firm’s global head of infrastructure asset management, said. IFM aims to propel use of the cleaner-burning jet fuel to 10% of Australia’s total by 2030.