As an avenue for active investment into SAF – a jet fuel alternative that reduces greenhouse gasses – this first-of-its-kind fund has launched with over $100 million already earmarked for use specifically by sustainability-focused technology start-ups. As well as United Airlines itself, initial contributors to the fund include Air Canada, Boeing, GE Aerospace, JPMorgan Chase and Honeywell.
How Passengers Can Get Involved
Beyond these big-name investors, United is also offering its passengers the chance to make their contribution to the development of SAF and, importantly, to ensure that sustainability is incorporated into the future of air travel. To this end, those who purchase their tickets via the United app or website will now be able to make a small contribution to this fund.
United confirmed that the first 10,000 passengers to contribute will receive 500 MileagePlus points as a small token of appreciation for their efforts. When logging in, passengers will also be able to view an estimate of their flight’s carbon footprint based on their chosen itinerary.
Investment to Make SAF Completely Sustainable
At present, SAF is produced by blending used cooking oil and agricultural waste with conventional jet fuel to meet industry requirements, but it is hoped that – with the investment into technology and research made possible by the United Airlines Ventures Sustainable Flight Fund – it will be possible to phase out the jet fuel element in favor of other feedstocks, such as household or forest waste.
United, which has committed to NetZero emissions by 2050, has also invested heavily into a wide range of companies and technologies to further decarbonize air travel. As a carrier, it has already invested in the future production of more than three billion gallons of SAF, the most of any global airline.
Commenting on the launch of the fund in a statement, United CEO Scott Kirby said, “Solving climate change is doable but it requires hard work and real leadership. This fund is unique. It’s not about offsets or things that are just greenwashing. Instead, we’re creating a system that drives investment to build a new industry around sustainable aviation fuel, essentially from scratch. That’s the only way we can actually decarbonize aviation.”
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Source: frugal travel guy