MTU Aero Engines publishes third Sustainability Report

IASA: Nachhaltige Luftfahrt - Sustainable Aviation

Munich, July 29, 2015: With the third Sustainability Report MTU Aero Engines emphasizes its product responsibility along the entire value chain. In its sustainability efforts, Germany’s leading engine manufacturer is pursuing an integrative approach that takes ecological as well as social aspects into account when looking at business performance. The third Sustainability Report issued by the company for the years 2013 and 2014 is the first to combine the reports to the UN Global Compact Communication on Progress and Global Reporting Initiative (G3.1) standards and covers the activities of MTU’s company locations in Europe.

“MTU Aero Engines is a major player in the global aircraft engine industry and a technology leader that keeps developing promising technical innovations. Corporate Responsibility is an integral part of our corporate culture,” explains Reiner Winkler, MTU Aero Engines AG’s Chief Executive Officer. “Eco-efficient and safe products are key to our long-term economic viability. This is why product responsibility is a top priority in our efforts aimed at responsible entrepreneurship.”

Top on MTU’s agenda is the development of aircraft engines that burn less fuel, produce fewer emissions, such as CO2, and are less noisy. The new geared turbofan engine, which represents the core of MTU’s Clean Air Engine technology roadmap, is an excellent example of the company’s strong commitment to product stewardship. With Clean Air Engine, MTU is responding to pressing global challenges, such as climate change, mobility needs and scarcity of resources. Plans are to reduce noise levels by 65 percent and to cut CO2 emissions by 40 percent by the year 2050. To communicate the efforts it is making to address climate change even more effectively to all stakeholders, MTU last year developed and published a separate climate strategy based on Clean Air Engine.

Next on the list of top priorities comes MTU’s commitment to responsible business practices. The company has undertaken to observe the ten principles of the United Nations Global Compact relating to human rights, fair labor standards, environmental protection and the fight against corruption. MTU’s strong performance in international rankings – the company was awarded Prime status by oekom research AG and won the 2014 German Investors’ Award for responsible business practices – is impressive proof of the progress made in these areas.

When it comes to responsible sourcing, Germany’s leading engine manufacturer is placing a special emphasis on the sustainability of upstream manufacturing processes. In 2014, MTU laid down binding labor, social and environmental standards in a Supplier Code of Conduct that governs cooperation with its worldwide supplier base. These standards are based on the principles of the UN Global Compact

Munich is home to MTU’s corporate headquarters. In fiscal 2014, the company had a workforce of some 9,000 employees and posted consolidated sales of approximately 3.9 billion euros. MTU Aero Engines’ 2013/2014 Sustainability Report is available online on the company’s website at: http://www.mtu.de/company/corporate-responsibility/reports/

 

Source: MTU Aero Engines

NASA: New Propulsion, Communications Research Contracts

IASA: Nachhaltige Luftfahrt - Sustainable Aviation

Washington, D.C., July 28, 2015: NASA has awarded contracts to 13 companies to provide advanced propulsion and communications system technologies as part of ongoing long-term aerospace research activities at the agency’s Glenn Research Center in Cleveland.

The selected companies are:

  • GE Aviation, Cincinnati
  • United Technologies Corporation, East Hartford, Connecticut
  • Rolls-Royce North American Technologies, Inc., Indianapolis
  • Williams International, Walled Lake, Michigan
  • Aerojet Rocketdyne of DE, Inc., Canoga Park, California
  • Orbital Technologies Corporation, Madison, Wisconsin
  • The Boeing Company, St. Louis
  • Northrop Grumman Systems Corporation, Redondo Beach, California
  • Alliant Techsystems Operations LLC, Elkton, Maryland
  • Sierra Lobo, Inc., Fremont, Ohio
  • General Dynamics C4 Systems, Scottsdale, Arizona
  • John Hopkins University Applied Physics Laboratory, Laurel, Maryland
  • MTI Systems, Inc., Greenbelt, Maryland

Each of the 13 indefinite-delivery, indefinite-quantity contracts provide for fixed price, cost share and cost reimbursement competitive tasks with a cumulative maximum value of $190 million over the next five years. Each contract will have a minimum value of $30,000.

The contractors will develop, demonstrate and verify advanced technologies that support key challenges in the areas of communications, structures and materials, power, propulsion systems for aeronautics vehicles, and propulsion and communications systems for space missions and vehicles.

Included in those challenges are high power density engine turbomachinery; advanced combustors and alternative fuels; low noise propulsion; variable, combined and hybrid engine systems; engine icing; instrumentation, sensors, controls and intelligent systems; electric propulsion, rocket-based, combined cycle propulsion systems; communication components and subsystem development; disruptive tolerant networking; and flight and ground communication terminals.

For more information about NASA’s Glenn Research Center, visit: http://www.nasa.gov/glenn

BoA: $125 Billion Environmental Business Initiative

IASA: Nachhaltige Luftfahrt - Sustainable Aviation

July 27, 2015: Bank of America (BoA) has pledged to increase the company’s current environmental business initiative from $50 billion to $125 billion in low-carbon business by 2025 through lending, investing, capital raising, advisory services and developing financing solutions for clients around the world.

Today’s announcement will be highlighted at the White House’s American Business Act on Climate Pledge event, which recognizes corporations for their support of action to address climate change. The event will bring together executives from various industries as they pledge their support of an agreement in advance of the climate change talks in Paris scheduled for later this year. The company is represented by Purna Saggurti, Bank of America Merrill Lynch chairman of Global Corporate and Investment Banking.

The company initiative and commitment focus on energy efficiency, renewable energy and transportation, in addition to addressing other important areas like water conservation, land use and waste. This expanded second commitment builds on the company’s initial environmental business initiative established in 2007 and fulfilled in 2013, four years ahead of schedule.

“We are putting our financial capital, our intellectual capital, and the strength of our partnerships to work to help create a better future for all of us,” said Brian Moynihan, chief executive officer, Bank of America.

“We will continue to work with partners around the globe to develop innovative and scalable solutions that attract new investors and additional capital to clean energy and low-carbon infrastructure opportunities,” said Saggurti.

“Since making its original environmental business commitment in 2007, Bank of America has consistently been among the leaders in every branch of clean energy finance we track,” said Michael Liebreich, founder and chairman of the Advisory Board, Bloomberg New Energy Finance. “This new commitment means Bank of America is again setting the pace. To be considered a leading provider of financial services, in anything from energy to real estate, it’s crucial to be focused on funding low-carbon solutions, and Bank of America’s new commitment is a very significant statement.”

Bank of America has provided more than $39 billion in financing for low-carbon activities since 2007, including $12 billion in 2014 alone, of which:

  • Forty percent went to renewable energies – solar, wind, hydro, geothermal, advanced biofuels or mixed portfolios.
  • Thirty-three percent went to financing energy efficiency.

In the past 12 months, Bank of America has deployed several innovative capital markets solutions designed to accelerate the funding of low-carbon projects, focusing in particular on developing the green bond market and building out its new Catalytic Finance Initiative.

Bank of America has played a leading role in the development of the rapidly expanding green bond market, issuing the first benchmark-sized corporate green bond in 2013 – a $500 million offering – followed by a second green bond for $600 million in the spring of 2015. According to Bloomberg New Energy Finance, Bank of America was the No. 1 underwriter of green bond issuances in 2014.

The company is also committed to attracting a wider array of capital to clean energy investments while delivering low-risk, solid yield opportunities for investors though the bank’s Catalytic Finance Initiative. Examples of initial projects under the initiative include:

  • Global Alliance for Clean Cookstoves: In November 2014, Bank of America announced a partnership with the Global Alliance for Clean Cookstoves and other commercial and development finance institutions to raise $100 million to help provide clean cooking solutions to millions of households in the developing world. Advancing clean cookstove technology helps improve the health of women and children, protects the environment by reducing carbon emissions and spurs economic growth.
  • Energía Eólica SA (EESA): Bank of America was a joint bookrunner for the first green bond out of Latin America, an offering of $204 million in senior secured green notes by EESA, a ContourGlobal subsidiary. Proceeds from the green project bond directly support EESA’s two separate wind farms in Talara and Cupisnique, Peru that became operational in September 2014 with an installed capacity of 114.04 MW. This green offering is expected to be the first of a new asset class that will help finance environmentally beneficial infrastructure in Latin America. It was recently named “Green Bond of the Year” by Environmental Finance magazine.

Source: Bank of America

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