ITP Aero: winner at the Expansión Awards for Transitioning Towards a Sustainable Economy for its Net Zero Strategy

ITP Aero emerged as a winner at the IX Edition of the Awards for Transitioning Towards a Sustainable Economy, organised by the Spanish newspaper Expansión. Specifically, the company was recognised with the award for the Best Transition Plan to achieve the “Net Zero” target before 2050 in the Large Company category. The ceremony took place yesterday at the Ramón Areces Foundation in Madrid.

The awards aim to acknowledge innovation by organisations in their efforts to contribute to a more sustainable society. ITP Aero joined the United Nations’ Race to Zero campaign through the Business Ambition for 1.5°C programme, committing to reduce emissions by setting science-based reduction targets across its value chain with guidance from SBTi.

Following this commitment, the company presented its Net Zero Action Plan aiming to reduce absolute Scope 1 and 2 emissions by 65% and Scope 3 emissions from the use of sold products 55% per available seat kilometer by 2030, from a 2019 base year. These targets were recently approved by the Science Based Targets initiative (SBTi), and the company continues to advance towards its net zero emissions goal by 2050.

To this end, the company has implemented initiatives to enhance the sustainability of its operations by consuming renewable energy and improving its products and services. This includes developing future flight technologies and supporting sustainable aviation fuels. Additionally, ITP Aero actively collaborates in regional, national, and international industrial initiatives, such as the International Aerospace Environmental Group (IAEG), focused on reducing aviation emissions and advancing sustainable flight technologies for the future.

“This award acknowledges ITP Aero’s commitment to decarbonisation and the efforts we have made to improve the sustainability of our processes and products. We have integrated ESG aspects into our company strategy and aim to be a benchmark in transforming the sector and leading the way towards sustainable aviation,” stated Pablo Quintana, Executive Director of Strategy and Sustainability at ITP Aero.

The IE University Foundation and the IE Center for Social Innovation and Sustainability oversee the technical secretariat and coordination of the awards, which are based on three pillars: the objectives of the European Green Deal; the 2030 Agenda built around the Sustainable Development Goals (SDGs); and the necessity of establishing a transition plan grounded in coherent social and environmental objectives.e.