Ardian, a world-leading private investment house, has partnered with Keflavík International Airport in Reykjavik, to help the airport measure its Scope 3 emissions, using the proprietary platform Ardian Air Carbon.
Ardian Air Carbon has been developed by the data science team at Ardian to measure indirect emissions, such as those generated by aircraft landings, take-offs, taxiing and ground vehicles. The tool uses real time, granular operational data to monitor and project emissions. Ardian Air Carbon is complying with the methodology published by the Airport Carbon Accreditation, the global carbon management certification programme for airports.
Ardian Air Carbon has already been rolled out across 4 airports: Turin, Milan Malpensa, Milan Linate and Naples. Keflavík is Iceland’s primary international airport and welcomed 6.1 million passengers in 2022. In time, this open platform aims to become an ecosystem wide tool supporting airports and aviation industry stakeholders in their common fight to reach net zero.
The project with Keflavík Airport will focus on estimating scope 3 items emissions at the airport, including emissions related to landings, take-offs, taxi, and auxiliary power units (APU).
Today, air travel accounts for up to 3% of global CO2 emissions. However, in a scenario where aviation is the only industry that does not take necessary action to limit global warming to less than 2% of pre-industrial levels in line with the Paris Agreement, air travel has the potential to contribute to 22% of global carbon emissions by 2050, according to Ardian’s latest Augmented Infrastructure report, The Fight for Net Zero Aviation**.
Airports are critical infrastructure at the centre of the aviation industry. As a result, they can have a structural impact on decarbonisation efforts. Currently, 96% of an average airport’s carbon footprint consists of Scope 3 emissions (excluding cruise emissions), making accurate measurement and projection modelisation essential.
Last year, after using Ardian Air Carbon to improve the measurement of its Scope 3 emissions, Turin Airport achieved its Level 3 'Optimisation' accreditation from the Airport Carbon Accreditation programme. This environmental sustainability programme is promoted by ACI Europe, the association of European airports, and is a respected protocol for actively managing airports’ carbon emissions through concrete, measurable results.
Isavia emphasizes that social responsibility is integral to the company’s strategy and operations. In its Sustainability Policy, the company is guided by sustainability in everything it does. Isavia focuses on climate issues and resource efficiency in relation to the environment, quality of life with regards to society and value creation when it comes to economy. Clear objectives, criteria and a five-year action plan have been set with clear responsibility for the sustainability policy.
"As a long-term investor and shareholder in airports, we believe we have a duty to support the transition to a more sustainable industry and, by doing so, to help future proof aviation for future generations. Airports can have a significant positive impact on the sector by acting to reduce their Scope 3 emissions, but to do so they need accurate data to underpin a realistic and sustainable decarbonisation programme. We created Ardian Air Carbon to break down silos between different stakeholder groups across the industry’s value chain and enable effective collective action to reduce carbon emissions. We look forward to working together with Isavia’s team to onboard them on Ardian Air Carbon platform which will support Keflavík International Airport’s sustainability targets." Pauline Thomson, Director Infrastructure & Head of Digital Innovation, Ardian
"Keflavik International Airport has set itself the goal of achieving carbon-free operations by 2030 at the latest. This and the airport aiming for the third stage of Airport Carbon Accreditation calls for a reliable tool to measure emissions. Isavia and Keflavik Airport are very happy to enter this important cooperation with Ardian and look forward to a productive and beneficial partnership. We are heading into the future with regards to our operations and this tool will help us to get where we want to be as soon as possible." Hrönn Ingólfsdóttir, Director of Corporate Strategy & Sustainability, Isavia
*based on the number of passengers of each airport in 2022
**https://www.ardian.com/sites/default/files/2022-11/The-Fight-for-a-Net-Zero-Aviation-Ardian.pdf, p.15
ABOUT KEFLAVÍK INTERNATIONAL AIRPORT/ISAVIA
Isavia ohf. is a publicly owned company responsible for the operation, maintenance and development of Keflavik International Airport in Iceland. In 2022 there were 26 airlines operating at Keflavik Airport offering access to 94 destinations. Just over 6.1 million passengers passed through the airport in 2022.
ABOUT ARDIAN
Ardian is a world-leading private investment house, managing or advising $150bn of assets on behalf of more than 1,400 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian is part-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our1,050+ employees, spread across 16 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.