Easyjet Pledges to Offset Emissions From Every Flight
November 19 2019 - 8:08AM
Dow Jones News
By Dieter Holger
EasyJet PLC (EZJ.LN) said Tuesday that it will offset
carbon-dioxide emissions from every flight as the industry grapples
with environmental concerns fears of fuel taxes in Europe.
The British budget airline said it would invest in projects like
renewable energy including solar and wind and plant trees to allay
the impact of the fuel it burns. It is also in the process of
developing an electric aircraft with Wright Electric and Airbus SE
(AIR.FR) and said it would use more sustainable aviation fuels made
from biomaterials when they become available.
"We know that carbon offsetting is only an interim measure while
new technologies are developed," easyJet said on its updated
sustainability website.
Carbon offsetting has become common practice among carriers as
the industry faces mounting pressure to address its environmental
impact.
"Clearly the industry sees itself coming under more pressure in
the future and is trying to get one step ahead as climate change
becomes an increasingly important issue for politicians, regulators
and the public," said Russ Mould, investment director at AJ Bell,
in response to easyJet's decision.
Air travel is the most carbon-intensive form of travel and
contributes to an estimated 4.9% of man-made global warming,
according to Transport & Environment, a research and advocacy
group. T&E said that emissions from the sector have doubled in
the last 20 years.
Citing research from the European Commission, T&E said that
the vast majority of offsets paid by polluting companies don't
deliver emission cuts. Instead, governments need to end the
aviation sector's freedom from fuel taxes and mandate cleaner
fuels, said Andrew Murphy, aviation manager at T&E.
"Airlines paying others so that they can go on polluting is not
a solution to aviation's climate problem," he said.
Investors are also skeptical about carbon offsetting, especially
programs that plant trees like easyJet's, analysts at Citi said on
Monday. Citi said planting trees is a "seemingly futile goal" since
a typical tree can absorb only as much as 25 kilograms of carbon
dioxide a year, struggling to offset even a single long-haul
flight.
Anthony Oruna Goriainoff contributed to this article
Write to Dieter Holger at dieter.holger@wsj.com;
@dieterholger
(END) Dow Jones Newswires
November 19, 2019 07:53 ET (12:53 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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