Qantas has pledged to reach net-zero carbon emissions by 2050. 

The pledge, which applies to Qantas and low-cost subsidiary Jetstar, comes amid growing pressure on the aviation industry to act faster to reduce emissions. Aviation accounts for approximately 2.5% of global emissions.

"We're doing this because it's the responsible thing to do, but hopefully it will encourage more people to choose Qantas and Jetstar because of the action we're taking," Qantas CEO Alan Joyce said in a statement.

As part of the pledge, Qantas said it will invest $50 million over the next ten years to spur the development of sustainable aviation fuel. Biofuels can reduce carbon emissions by 80%. Although five forms of sustainable aviation fuel have already been approved for use, production has been slow to ramp up because biofuels are more expensive than fossil fuels. Qantas said it will work with governments and private partners to support biofuel development in Australia and overseas.

The carrier also said it will match all donations by customers who tick the box on ticket purchases to fly carbon neutral. Qantas said that approximately 10% of customers who book flights on its website choose to fly carbon neutral.

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