JetBlue Sets ESG Targets on Achieving Net Zero Carbon Emissions by 2040

JetBlue

JetBlue Celebrates Earth Month by Announcing Meaningful, Short-term Actions to Advance Decarbonization Efforts and Benefit its Communities

Apr 01, 2021

— JetBlue Sets Ambitious and Comprehensive Environmental Social Governance (ESG) Targets, Focuses on Achieving Net Zero Carbon Emissions by 2040, Expanding Usage of Sustainable Aviation Fuels (SAF), Increasing Representation in Leadership and Robust ESG Governance —

— As part of its annual GreenUp® Environmental Campaign, JetBlue is Encouraging Customers and Crewmembers to Lessen their Individual Impact and Participate in the Great Global Clean Up in Partnership with EARTHDAY.ORG —

NEW YORK–(BUSINESS WIRE)– JetBlue (Nasdaq: JBLU) today announced an ambitious and comprehensive set of short and medium term ESG targets to achieve net zero carbon emissions for its airline operations by 2040, increase usage of renewable energy, significantly increase diverse representation in its leadership ranks, hold business partners accountable for sustainable business practices, and more. This Earth Month, JetBlue is accelerating its commitment to take critical and measurable steps toward reducing its contribution to climate change.

JetBlue views robust oversight of key ESG issues as good for business and in generating long-term value, and recognizes that customers expect clean, efficient, and affordable travel. That’s why JetBlue is helping lead the path in sustainable aviation. In 2020, JetBlue became the first U.S. airline to achieve carbon neutrality for all domestic flying, today primarily through carbon offsets while the industry builds up lower-carbon technologies to reduce direct emissions.

“Our vision is to lead the way to a lower-carbon future for aviation. To get there, we are focused on innovations that offer meaningful reductions in emissions – and are setting clear targets along the way,” said Joanna Geraghty, president and chief operating officer, JetBlue. “We’re facing climate change head on and are seeking opportunities to reduce natural resource consumption, such as increasing use of renewable energy and minimizing waste produced.”

While ESG is part of JetBlue’s business strategy, programs encouraging individuals to lessen their environmental impact remain a pillar of JetBlue For Good, the airline’s platform for social impact and corporate responsibility. Each April, JetBlue hosts its annual GreenUp campaign dedicated to bettering the communities it serves and help create a cleaner earth for future generations. This Earth Month, JetBlue is partnering with EARTHDAY.ORG, whose mission is to diversify, educate and activate the environmental movement worldwide, for the Great Global Cleanup highlighting volunteer opportunities throughout the airline’s network.

JetBlue Launches New ESG Targets

Environmental

Carbon neutrality is just one way JetBlue is preparing for a changing climate and ensuring a more sustainable business for its crewmembers, customers, shareholders and communities. JetBlue’s carbon reduction efforts focuses on decreasing emissions through fuel-efficient operations, aircraft, and usage of sustainable aviation fuels. JetBlue is setting clear targets to chart a path toward net zero.

Reduce emissions with carbon offsets:

  • Achieve net zero carbon emissions by 2040, including carbon offsets

Reduce direct emissions:

  • Decrease aircraft emissions 25 percent per available seat mile (ASM) by 2030 from 2015 levels, excluding offsets

Increase usage of sustainable energy:

  • Convert 10 percent of total jet fuel to be from blended sustainable aviation fuel (SAF) by 2030
  • Convert 40 percent of three main ground service equipment vehicle types to electric by 2025 and 50 percent by 2030

Reduce waste:

  • Eliminate single use plastics within service ware where possible. Where not possible, ensure plastic is recyclable
  • Maintain at least an 80 percent recycling rate for audited domestic flights

Social

Crewmember feedback and societal demands were part of the impetus for JetBlue to reexamine its relationships with crewmembers, business partners, customers, and the communities it serves. This included an evolution of its diversity, equity and inclusion (DEI) strategy, which now concentrates on three areas: people, sourcing and brand.

This year JetBlue’s senior leaders tied to their 2021-2023 long-term incentive plan (LTIP) compensation to key ESG metrics. An ESG Index was developed that measures leadership payouts based on percent reduction in company emissions per ASM, volume of sustainable aviation fuel used, spend toward underrepresented business partners, long-term efforts to engage and work with minority and women owned businesses (MWBE), and a more diverse slate of officers and directors.

“JetBlue’s reinforced DEI strategy includes an increased investment in crewmembers’ development, retention and growth, focusing on a more inclusive workplace that drives better decision-making and innovation, said Robin Hayes, chief executive officer, JetBlue. “We’re mobilizing our senior leadership team to create a more equitable workplace that better reflects the diverse communities we serve in all aspects of our airline. To ensure our success and strengthen shareholder value, ESG metrics will be tied to compensation and goals for JetBlue’s officers and directors.”

Source: JetBlue