Europe's largest private jet company will be 100% carbon neutral by 2012
13 September 2007 - NetJets Europe today announces a comprehensive new programme to address climate change. The NetJets Europe Climate Initiative will ensure that the carbon emissions from all the company's activities will be fully neutralised by 2012.
The company is investing in technological innovation that, if successful, can bring about dramatic change to aviations environmental impact. NetJets is supporting research at Princeton University in the development of an ultra-low emission jet fuel for today's jet engines. According to Mark Booth, "we want to see if we can fix the problem, not just mitigate it".
The company spent significant time securing an offset provider and emission reduction projects that they are confident will genuinely benefit the environment. After reviewing 29 different providers, NetJets Europe is working with EcoSecurities which is based in Oxford, England. The company is investing in Verified Emissions Reductions (pre-registration offsets) from Kyoto-level CDM registered projects to offset the carbon emissions of both the company and its clients. Particular care has been taken to ensure that the offset projects undertaken are genuinely additional under the definition introduced in Article 12.5 of the Kyoto Protocol. Only projects which achieve CO2 reductions that would not have happened without carbon financing are certified under the Kyoto Clean Development Mechanism (CDM).
At the heart of the emissions neutralising initiative is a decision to include carbon offsetting in NetJets pricing as of October 1, 2007. All new clients and all existing customers who renew their contracts will purchase carbon credits that neutralise all the carbon emissions associated with their aircraft usage. Existing customers will also be encouraged to sign-up to the programme and offset their flying immediately. "Our clients have been asking for a thoughtful programme" said Mr Booth "and we expect significant take up over the next few months". NetJets Europe will provide the offsetting service as a benefit to its owners at cost. The offset programme is the centrepiece of a comprehensive strategy to take an industry-leading position in addressing climate change. Other elements include:
Low Emission Jet Fuel Project – In an effort to help find a long-term solution to aviation's environmental challenges, NetJets is funding the Next Generation Jet-Fuel Project at Princeton University Department of Mechanical and Aeronautical Engineering. This project will identify the most promising ways to develop and commercialise green aviation fuel technology. The project will apply what is being learned in related research on bio-fuels and alternative jet fuels to business jets with the aim of developing an ultra-low emission jet fuel.
Operations Energy Conservation and Emissions Reductions – The Company's environmental priority is to reduce emissions in its business and aircraft operations wherever possible. As part of this effort the company will invest heavily in new generations of fuel-efficient aircraft such as the Hawker 4000 and the Falcon 7X. It will spend US$3.5 million to add winglets to its entire Falcon 2000EX fleet which will reduce the fuel consumption of these aircraft by up to 5%. For its business operations NetJets Europe is committing to a 10% reduction in emissions across all of its offices in the next 2 years. NetJets Europe is currently hiring a dedicated Environmental Affairs Manager to oversee the implementation and monitoring of its entire Climate Initiative and energy efficiency programme across Europe.
Environmental Advisory Board – NetJets Europe has established a European Environmental Advisory Board composed of global leaders on the environment. The Advisory Board's role will be to regularly advise and critique the company on its environmental policy. Board Members are independent and valued for their direct and honest feedback on where the company is doing well and where it needs improvement. The members are:
• Professor Dan Esty
• Nick Butler
• Maritta R von Bieberstein Koch-Weser
• Brice Lalonde
• John McCall MacBain
• Jan-Olaf Willums
Environmental Advisory Board
NICK BUTLER is Director of the Cambridge Centre for Energy Studies. He also serves as Chairman of the Centre for European Reform and sits on the faculty of the World Economic Forum. He served as Group Vice President for Policy and Strategy Development at BP from 2002-2006.
DAN ESTY is the Hillhouse Professor at Yale University, Director of the Yale Centre for Business and the Environment and the Yale Centre for Environmental Law and Policy. He was a top official at the U.S. Environmental Protection Agency and has helped many global companies including DuPont, Unilever, Ikea and Shell, design serious, long-term environmental programmes.
MARITTA R.VON BIEBERSTEIN KOCH-WESER worked on environmental programs at the World Bank for 18 years, and served as Director General of The World Conservation Union, the world's largest umbrella organization of environmental institutions. She is the CEO of the Global Exchange for Social Investment, and Founder/President of Earth3000.
BRICE LALONDE is Chairman for the OECD Round Table on Sustainable Development. From 1988 - 92 he served as the French Minister for the Environment, where he contributed to the Basel Convention, the Madrid Treaty on Antarctica, and the Rio Climate Convention.
JOHN MCCALL MACBAIN, a NetJets owner and the founder, former President and CEO of Trader.com, is a philanthropist with interests in environmental protection. He was a Rhodes Scholar at Oxford University, and holds an MBA from Harvard Business School.
JAN-OLAF WILLUMS is Chairman of Inspire, a group that invests in young enterprises with environmental agendas. He serves today as CEO in one of his investments, the electric car company THINK. He is a professor at the Norwegian School of Management, and co-founder of its Centre for Corporate Citizenship, and member of the environmental advisory board of the EBRD.
NetJets Europe was founded in 1996 and today is the largest business jet company in Europe. As the only pan-European operator with its own fleet, NetJets Europe, through NetJets Transportes Aéreos (NTA), is uniquely capable of delivering a consistent, world-class service with an unparalleled commitment to safety and security. NTA is the only dedicated business jet operator to be awarded the IOSA certificate - the highest safety accreditation in the world. In 2006, the NetJets Europe Fleet flew more than 60,000 flights to 125 countries. NetJets Europe employs a total workforce of over 1,500. NetJets Europe is the marketing agent of NetJets Transportes Aéreos S.A., an EU air Carrier.
The NetJets fractional aircraft ownership program is made available through the NetJets family of operating companies. Each of the NetJets operating companies operates, maintains and crews its respective fleets.
– NetJets Inc. (www.netjets.com) formerly Executive Jet, Inc. was founded in 1964 as the first private jet charter and aircraft management company in the world. The NetJets programme was created in 1986 as the world's first fractional aircraft ownership program for business jets and private jets. The programme launched in Europe in 1996. In 1998, after being a satisfied NetJets customer for three years, Warren Buffett, Chairman and CEO of Berkshire Hathaway Inc.(www.berkshirehathaway.com), acquired NetJets Inc.
– NetJets Europe (www.netjetseurope.com) – All private jets and business jets offered by NetJets Europe are operated, maintained, and crewed by NetJets Transportes Aéreos, S.A. an EU Air Carrier. Operations centre located in Lisbon, Portugal.
– NetJets Middle East – NetJets Management Ltd. and NetJets Middle East are subsidiaries or affiliates of NetJets Inc. Operations centre located in Jeddah, Saudi Arabia.
– NetJets Aviation, Inc. – All private jets and business jets, with the exception of the Boeing Business Jets, Gulfstream 450 and Gulfstream 550 executive jets, offered by NetJets in the United States are operated by NetJets Aviation. Operations centre located in Columbus, Ohio, USA.
– NetJets International – The NetJets Gulfstream Large Cabin Fleet is operated by NetJets International. Based near Hilton Head, South Carolina, USA, this company operates the Gulfstream 450 and Gulfstream 550 executive jets in the United States.
– NetJets Large Aircraft Company – Boeing Business Jets are operated by the NetJets Large Aircraft Company. Operations centre located in Columbus, Ohio, USA.
– Executive Jet Management – Executive Jet Management offers on-demand private jet charter services, jet charter aircraft management, and turnkey aircraft management services. Operations centre located in Cincinnati, Ohio, USA.
