Taking The Carbon Sting Out Of Business Travel

NetJets Europe announced Thursday a comprehensive new program to address climate change. The NetJets Europe Climate Initiative will ensure that the carbon emissions from all the company's activities will be fully neutralized by 2012.

"Our program is unique, comprehensive and far-reaching" says Mark Booth, Chairman and CEO. "We believe it positions NetJets Europe as an industry and commercial leader in addressing climate change. We are tackling issues in a meaningful way today, but our ultimate objective is to help find a solution to aircraft emissions long term."

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 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 neutralizing 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 program and offset their flying immediately.

"Our clients have been asking for a thoughtful program" 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 program is the centrepiece of a comprehensive strategy to take an industry-leading position in addressing climate change.

Other elements of the initiative include funding of Princeton's Next Generation Jet-Fuel Project, and reducing emissions throughout its fleet -- including a push to adopt more fuel-efficient planes, such as the Hawker 4000 and Dassault Falcon 7X.

FMI: www.netjetseurope.com