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Chairman of the Board Of Avia Solutions Group Gediminas Ziemelis: Does better governance for aviation's sustainability mean better financial rewards?

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Avia Solutions Group

06 Sep, 2021, 08:33 GMT

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LONDON, Sept. 6, 2021 /PRNewswire/ -- To discuss sustainability in the aviation industry the conversation also needs to address the subject of governance.

According to a sustainability report from the ICSA (International Coalition for Sustainable Aviation) aviation emissions amount to 2.1% of the global share, however, when non-CO2 emissions are introduced into the equation aviation contributes an estimated 4.9% to the overall global warming problem.

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Gediminas Ziemelis Chairman of the Board at Avia Solutions Group

While the figures may seem daunting, the question needs to be asked; is the aviation sector being over-vilified at a time when governance regarding sustainability in the industry has never been so focused?

Major stakeholders in the aviation sector are being faced with the need to comply with the long-term decarbonisation goals being set by governments. But it seems that the governance of these goals is a moveable feast, with global governmental regulations still to be unified.

Even before the Paris Agreement on climate change came into force, aviation – a traditionally conservative industry – had already set in motion its own proactive governance to halve CO2 emissions by 2050; a figure which later matched the Paris Agreement's goal to limit global temperature rises to below 20C.

Additionally, in 2016, and working as a united body, the ICAO decided to adopt a market-based global measure for aviation emissions – CORSIA, the Carbon Offset and Reduction Scheme for International Aviation. The scheme, it is envisaged, will allow the aviation sector to cut its CO2 emissions by 2.5 billion tons between 2005 and 2035. This target will be reached through US$40 billion investment in carbon-reduction products backed by solid governance procedures.

The pre-emptive attention being paid to governance on sustainability right across the industry only serves to strengthen stakeholder and investor confidence in the future of aviation. Good governance also creates an environment equipped to identify, and profit from changes within the industry.

Already, investors are actively pursuing opportunities with businesses that promote sustainability in aviation backed by proper governance procedures. It has been established that the sustainable aviation fuel market alone will be worth $15,307 million by 2030, a hugely significant increase from $66 million in 2020.

Since the onset of the global pandemic, government support for airlines and the aviation industry has varied from country to country. In most countries, priority support and preferential treatment have been given to many 'national carriers' and larger airlines, which will most likely lead to these companies enjoying a bigger share of the market. However, if governments apply real governance, and aviation stakeholders are given strong financial incentives to meet emissions and CO2 reduction targets, an investment-friendly environment will be established.

Good governance will help ensure that sustainability-backed 'Green Finance', and accelerated efforts to reach the set targets will require vast capital investment. For investors, Green Finance offers the benefits of investment diversification and potential yield benefits arising from the governance driving sustainability.

Already, thanks to good governance, Etihad has secured a $111 million sustainability-linked loan to invest in biofuels, green buildings, waste management and other green issues.

The Royal Schiphol Group issued a €750 million green bond for investment in sustainable buildings across the airports it manages in the Netherlands. While Etihad also sold $600 million worth of Islamic bonds to finance the replacement of its old fleet along with investment in sustainable aviation fuel research.

In the case of the Etihad Islamic Bond deal, the coupon payments are dependent on the airline achieving a reduction in CO2 emissions of 17.8% across its fleet in comparison to 2017 levels.

Other examples of good governance in sustainability include the E7 billion support package for Air France by the French Government, a deal reportedly conditional on the airline cutting its carbon emissions and making a reduction in domestic flights. Under the conditions of the bailout package, Air France is banned from competing with high-speed TGV trains across a selection of routes taking less than 2.5 hours. The deal would see Air France losing approximately 18 slots per day from Paris Orly Airport while offering benefits to its competitors by allowing them to increase their operations and ensure the stability of airfares and increased customer choice.

Along with the constant striving to reduce emissions and improve fuel efficiency, other aviation sectors are also being influenced towards sustainability through good governance 'cross-pollination'.

Improved ground operations, more sustainable infrastructure, and a wide range of other sustainability measures and incentives are being courted by an ever-growing number of investors.

The implementation of good governance procedures means that an organisation is well-placed to respond to an ever-changing environment. To fully understand the change that is happening throughout the aviation industry requires commitment, vision, leadership, and access to resources, all of which can only be born from adherence to good governance at every level of the industry.

For media inquiries:

Vilma Vaitiekunaite
+370 686 16336
vilma.vaitiekunaite@aviasg.com

About Gediminas Ziemelis:

Throughout a business development career spanning more than 24 years, Gediminas Ziemelis has established over 50 start-ups and green-field investments in various industries such as IT, media, luxury furniture, pharma, clinics, agriculture, and across other industry sectors. At present, these companies are either owned by PE "Vertas Management", or have previously been sold and are now components of other sizeable organisations.

Gediminas Ziemelis is the founder and chairman of Avia Solutions Group - a leading global aerospace services group with almost 100 offices and production stations providing aviation services and solutions worldwide.

Spanning his career to date, G. Ziemelis has received many prestigious awards and industry recognitions. In 2016, G. Ziemelis received a prestigious European Business Award in recognition of his visionary business management and development skills. The same year, under his leadership, Avia Solutions Group was named a national public champion in the category of Entrepreneurship, earning a spot in the top 110 European businesses. Twice – in 2012 and again in 2014 – Ziemelis was acknowledged as one of the top 40 most talented young leaders in the global aerospace industry by the leading USA aerospace magazine 'Aviation Week'.

Over his career, Gediminas Ziemelis has taken part in many impressive business ventures. Between 2014 – 2017, he personally supported and consulted Chinese Banks (including ICBCL, CMBL, and Skyco Leasing) concerning financing aircraft sale-leaseback transactions where the total value was more than US$ 4 bn.

Between 2006 – 2019, Avia Solutions Group Chairman executed successful IPOs of 4 companies at OMX and WSE, oversaw many public bonds issues, along with the raising of public capital worth more than US$ 400 M.

His total net worth is US$ 1.1 bn, according to local business media.

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