The desire to save the planet from the effects of global warming will result in higher food prices. One of the reasons for the increase in the cost of products may be the transition of aviation to “green” fuel, said Ryanair CEO Michael O’Leary. CNBC…
O’Leary recognized the need to introduce sustainable aviation fuel (SAF) from renewable sources such as waste vegetable oil and animal fat. “I am really worried that this will affect food prices in the future,” he said.
Aviation currently accounts for about 12 percent of the world’s harmful emissions. The industry has pledged to halve its 2005 carbon emissions by 2050. SAF is a special low carbon aviation fuel. It is of two types: synthetic, produced from carbon captured in the atmosphere, and biological, produced from biomass (animal fat, vegetable and processed oils, as well as waste from some industries). Russia is also preparing to develop green aviation fuel: Gazprom Neft and Aeroflot signed an agreement on this.
In general, humanity’s struggle for the environment and ecology will lead to an inevitable increase in prices for almost all goods around the world. Governments are forced to introduce additional restrictions in order to stimulate production towards environmental transformation, which will require additional costs and lead to the so-called “green inflation”. According to analysts, it will not last forever, but a downward trend will only show when electricity from renewable energy sources is in excess and starts to fall in price.
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