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Qantas takes big step towards sustainable future

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Australian airline Qantas is ramping up its efforts to be better on the environment

Passengers on Qantas flights will start to notice some big changes over the next couple of years.

The Australian national carrier has announced its officially quitting plastic packaging and utensils altogether.

Knives, forks, bags, wrapping, and cups are among the type of things no longer to be found on flights by 2027.

A look at Qantas’s new targets:

  • Sustainable Aviation Fuel (SAF)  10 per cent use of SAF in the Group’s fuel mix by 2030, and approximately 60 per cent by 2050.
  • Waste reduction – Zero single-use plastics by 2027 and zero general waste (excluding quarantine waste) to landfill by 2030.
  • Fuel efficiency – Increase fuel efficiency by an average of 1.5 per cent per year to 2030. Achieved through updating our aircraft fleet and using more efficient flight planning, while continuing research into next generation technologies, including hydrogen and battery power.
  • Offsets – continue to build our offsetting program particularly into key Australian projects
QANTAS ZEROS IN ON EMISSIONS WITH INTERIM TARGET

Leading the biofuels industry:

Qantas says that sustainable aviation fuel (SAF) is critical to the decarbonisation of the industry. The carrier is setting a target of 10 per cent SAF in fuel uptake by 2030, and approximately 60 per cent by 2050.

Qantas has already started flying with SAF sourced from overseas, with 15 per cent of fuel used out of London comprised of SAF since the beginning of 2022. A second major supply deal has been signed for almost 20 million litres a year of blended SAF out of Californian airports from 2025, with options to increase amounts as production increases. Negotiation on other offshore supply agreements are underway.

SAF is produced from certified bio feedstock, including used cooking oil, sugar cane, forestry residues, animal tallow and other waste products. It is blended with normal jet fuel and produces up to 80 per cent less emissions on a life cycle basis when compared with traditional jet kerosene.

The airline will also tie its climate change goals to the pay packets of its management team from July.

It is also aiming for zero landfill waste by 2030.

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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