Over the next decade, Delta Air Lines Inc
The aviation industry currently contributes 2% of global carbon emissions. The industry has shown as interest in moving towards a smaller environmental impact despite forecasts that show an acceleration in air travel. This decision comes amongst increasing public pressure for companies to reduce carbon emissions and their environmental footprint.
"There is no substitute for the power that travel has to connect people, which our world needs today more than ever before... it is our responsibility to deliver on our promise to bring people together and ensure the utmost care for our environment," said Ed Bastian, Delta's CEO.
Delta is taking steps to become a greener airline with measures that range from eliminating single-use plastics to investing in biofuels and purchasing more fuel-efficient aircraft. The airline is also planning to help fund research into clean air technologies, carbon and waste reduction.
"There's no challenge we face that is in greater need of innovation than environmental sustainability, and we know there is no single solution," Bastian said in a statement. Details on how Delta will be investing the $1 billion are limited. This is partly because there aren't many clear avenues for them to follow.
According to Delta's "News Hub", the company will be using carbon reduction, carbon removal, and stakeholder engagement to become carbon neutral.
We plan on "reducing Delta's carbon footprint through enterprise-wide efforts to decrease the use of jet fuel and increase efficiency... Investing in innovative projects and technology to remove carbon emissions from the atmosphere that go beyond the airline's current commitments... and Building coalitions... to advance carbon reduction and removal goals and maximize our global impact."
Airlines don't have many options yet to reduce their carbon footprint. Biofuels aren't a realistic option yet given how long they take to develop and how limited they are. Currently, there's not much sign of a new more fuel-efficient engine hitting the market any time soon.
Airlines' efforts to use lighter materials and single-engine taxiing has cut their emissions by 1-2% each year, but it isn't enough. Another technique airlines use to appear more environmentally friendly is carbon-offsetting. Carbon-offsetting entails investing in verified environmental projects to offset carbon emissions.
In the past, Delta has pledged to cap its greenhouse gasses at 2012 levels despite an increase of 20% by purchasing carbon offsets. That isn't where this recently announced $1 billion invest is going, though, according to Bastian's statement.
"We are on a journey, and though we don't have all the answers today, we know that our scale, along with investments of time, talent and resources will bring meaningful impact to the planet and ensure the sustainability of our business for decades to come," Bastian said.
On the same day as this announcement, Delta paid $1.6 billion in profit sharing to its employees.
