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News Item
NetJets Announces Comprehensive Climate Initiative, Supported by 3Degrees
The World Leader in Private Aviation Launches Multi-Part Environmental Program
NetJets Inc. Chairman & CEO Richard T. Santulli today unveiled details of a multifaceted initiative to address the environmental impact of the company’s flights and other operations and strengthen its response to climate change and other environmental challenges.
Consistent with NetJets’ longstanding dedication to innovation, this new initiative tackles climate change in a variety of ways. Santulli outlined NetJets’ determination to make a significant difference: “We at NetJets, as individuals and as a company, are very concerned about the issue of climate change. We are committed to being responsible stewards of our environment and setting the bar for the private aviation industry. This is only the beginning of a long-term effort that will fully integrate environmental concerns into our everyday business model.”
The initiative includes a focus on offsetting carbon emissions from NetJets’ flights, while at the same time it begins to reduce the carbon footprint of NetJets’ operations worldwide. With the assistance of Esty Environmental Partners a leader in corporate environmental strategy, NetJets selected 3Degrees as a partner to supply Verified Emission Reductions for its U.S. based flights and operations.
The following core elements of the initiative are the results of a detailed environmental review process undertaken by NetJets beginning in early 2006:
- Improving Energy Efficiency and Reducing Greenhouse Gas Emissions – NetJets US has established a goal of improving its energy efficiency, cutting waste, and reducing carbon emissions from its internal operations by 10% over the next two years. It has established Director of Environmental Management positions, reporting to the Office of the Chairman, in both the United States and Europe. These senior executives will manage, monitor, and report regularly on NetJets’ progress and any ongoing challenges, as well as helping to identify new opportunities to do more in the coming months and years.
- Driving Technological Transformation – NetJets is investing in cutting-edge research to identify more environmentally-friendly aviation technologies through sponsoring The Next Generation Jet Fuel Project at Princeton University with the University of California, Davis to develop an ultra-low emission jet fuel.
- Offsetting Unavoidable Impacts – NetJets is investing in a set of carefully-reviewed and closely-monitored carbon offset projects which will provide verified greenhouse gas reductions. These projects will allow the company to offset fully the carbon footprint of its internal operations. The offset portfolio will also be available to NetJets Owners so they can offset their flights. Additionally, Marquis Jet Partners will make the NetJets carbon offset portfolio available to Marquis Jet Card Owners.
- Leveraging World Class Expertise – To ensure that NetJets is and remains a leader on climate issues, the company has established both U.S. and European advisory boards – each consisting of environmental experts who can help NetJets apply best-in-class practices and provide guidance to the company at every step along the way. The U.S. Advisory Board consists of: Fred Dryer, Professor of Mechanical and Aerospace Engineering at Princeton University; Ashok Gupta, Director of the Air and Energy Program at the Natural Resources Defense Council; Terry Tamminen, former Secretary of the California Environmental Protection Agency; Bonnie Reiss, Operating Advisor to Pegasus Capital and founder of the Earth Communications Office; and George Favaloro, Managing Partner at Esty Environmental Partners.
NetJets realizes that its responsibilities also extend to the communities in which it operates. With this in mind, it will build on these four areas of immediate commitment by launching a community-based Solar Schools Project. Beginning in California and drawing on Governor Arnold Schwarzenegger’s environmental leadership, this innovative public-private partnership will fund the placement of photovoltaic cells on school roofs – while in the process educating school children about environmental issues.
Schwarzenegger praised the NetJets initiative: “As a longtime customer of NetJets, I am proud of the company for stepping up to be a leader in fighting global warming. And to help them succeed in this bold and innovative effort, I have already signed up to purchase carbon credits for my own flying through the NetJets offset program.”
NetJets Inc., a Berkshire Hathaway company, provides the safest and most secure private aviation solutions in the world. NetJets fractional aircraft ownership allows individuals and companies to buy a share of a private business jet at a fraction of the cost of whole aircraft ownership, and guarantees availability 365 days a year with just a few hours’ notice. NetJets Inc, also offers aircraft management, charter management and on-demand charter services through its subsidiary, Executive Jet Management. More information on NetJets, the Marquis Jet Program, and Executive Jet Management is available at www.netjets.com