Southwest Airlines Announces 10-Year Environmental Sustainability Plan

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Southwest Airlines Announces 10-Year Environmental Sustainability Plan
Southwest Airlines Announces 10-Year Environmental Sustainability Plan

DALLAS, Oct. 18, 2021 /PRNewswire/ — Southwest Airways Co. (NYSE: LUV) right this moment introduced a sequence of near-term objectives, actions, and initiatives in help of a 10-year plan to take care of carbon neutrality to 2019 ranges whereas persevering with to develop its operations.

The Firm plans to realize these goals via the next actions:

  • Cut back its carbon emissions per obtainable seat mile (together with scope 1 and scope 2 emissions) by at the least 20 % by 2030 via fleet modernization, route optimization, and different initiatives.
  • Substitute 10 % of its complete jet gasoline consumption with sustainable aviation gasoline (SAF) by 2030.
  • Offset emissions by offering the primary U.S.-based airline carbon offset supply with loyalty factors and for each greenback contributed towards offsetting Southwest’s carbon emissions, Southwest will match the contribution.*

“As a number one world citizen, we’re constructing on prior efforts to deal with our environmental impression, and with right this moment’s announcement, we’re setting objectives to scale back our carbon emission depth and improve SAF in our operations; and we’re working to advance information within the discipline of sustainability,” stated Bob Jordan, Govt Vice President and Incoming CEO at Southwest Airways.

*Taxes and costs won’t be matched by Southwest or earn factors. Southwest’s contribution could also be used to buy offsets for Southwest from any carbon offset challenge of Southwest’s alternative. Speedy Rewards® Members can earn 10 Speedy Rewards bonus factors per greenback contributed in the direction of the acquisition of offsets for Southwest as much as a most of 500 Speedy Rewards bonus factors per thirty days. Factors will solely be awarded to the Speedy Rewards Member’s Speedy Rewards account quantity entered on the time of the carbon offset transaction.

Southwest’s 10-year plan to take care of carbon neutrality to 2019 ranges whereas persevering with to develop its operations consists of plans to scale back, exchange, and offset. As well as, the Firm will proceed to accomplice with organizations and nonprofits whose work enhances its efforts to enhance environmental sustainability and can invite Clients to affix on this effort to indicate kindness to our planet.

The scope of Southwest’s Sustainability efforts extends properly past a ten-year time horizon. The final word goal is to realize carbon neutrality by 2050, and there may be vital work underway directed at this final goal. An vital step in that long-term plan is a tangible technique and clear set of actions for the following ten years.

“Southwest is making sustainability a precedence with the intention to proceed connecting Clients to what’s vital of their lives whereas striving to realize our carbon neutrality objectives,” stated Stacy Malphurs, Vice President of Provide Chain Administration & Environmental Sustainability for Southwest. “Our objective to scale back, exchange, offset, and accomplice are vital subsequent steps within the journey to construct a holistic method to enhance our environmental sustainability.”

Cut back
Southwest plans to proceed lowering its carbon emissions depth by:  

  • Modernizing its fleet with extra fuel-efficient Boeing 737 MAX 7 and eight plane. Southwest has prolonged its order e-book via 2031 with plans to speed up 737-700 retirements and make investments greater than $10 billion in new and current agency plane orders to additional enhance gasoline effectivity and scale back carbon emissions.
  • Persevering with to work with the Federal Aviation Administration’s (FAA) NextGen program in an effort to modernize the U.S. air visitors management system by addressing limitations on air transportation capability and making extra environment friendly use of airspace.
  • Electrifying eligible floor companies gear, growing the present fleet of greater than 1,400 electric-powered automobiles.
  • Including to the Firm’s greater than $630 million funding in gasoline effectivity initiatives since 2002, implementing, for instance, new know-how to watch fleet utilization.

Substitute
By 2030, Southwest plans to exchange 10 % of its complete jet gasoline consumption as sustainable aviation gasoline by:

  • Establishing a partnership with Neste for as much as 5 million gallons of SAF via December 2023.
  • Working with Marathon Petroleum Company and Phillips 66, furthering its introduced memoranda of understanding, to facilitate the event and manufacturing of SAF at vital scale.
  • Partaking with Deloitte, Siemens, and Zurich North America for SAF beta partnerships to assist help Southwest’s utilization of SAF in its operation.

Offset
As Southwest implements long-term plans and explores new applied sciences within the short-term, it is also taking steps to offset vitality consumption and have interaction each particular person and company Clients on alternatives by: 

  • Partnering with Chooose and Clients to offset Southwest’s carbon emissions by offering the primary U.S.-based airline carbon offset supply with loyalty factors and for each greenback contributed towards offsetting Southwest’s carbon emissions, Southwest will match the contribution.*
  • Launching the Inexperienced Incentive Program, a Southwest Enterprise performance-based incentive program that gives company Clients the chance to earn and use funds for his or her firm’s sustainability initiatives, which may embody offsets or different initiatives.
  • Sourcing one hundred pc renewable electrical energy as of Could 2021 for the service’s Dallas company campus via the acquisition of renewable vitality certificates.

Associate
Along with the objectives introduced above, partnerships will play a vital function in Southwest’s sustainability efforts, together with authorities help and collaboration all through all the worth chain, together with:

  • Making a $10 million dedication to Yale’s Heart for Pure Carbon Seize to analysis technological developments and discover new options to scale back internet greenhouse gasoline emissions and to Yale’s Faculty of the Surroundings to discover the present state of sustainability, technique, coverage, and economics.
  • Persevering with Repurpose with Objective, a world sustainability initiative that upcycles gadgets comparable to leather-based seat coverings and transforms them into new merchandise. By means of Repurpose with Objective, Southwest Airways helps communities by serving to to offer employment, expertise coaching, and donated merchandise. In 2020, practically 140,000 kilos of leather-based seat covers had been repurposed, serving to Southwest scale back the quantity of waste despatched to landfills whereas additionally producing social and financial alternatives for communities.
  • Working with quite a lot of organizations and nonprofits, together with Airways for America (A4A), whose work enhances our sustainability efforts, in addition to authorities entities in supporting investments and incentives to assist the business meet its objectives.

Cautionary Assertion Concerning Ahead-Wanting Statements 

This information launch comprises forward-looking statements inside the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended. Particular forward-looking statements embody, with out limitation, statements associated (i) to the Firm’s carbon neutrality objectives, plans, and initiatives, together with with respect to lowering carbon emissions depth, sustaining carbon impartial development, changing standard jet gasoline with sustainable aviation jet gasoline, offsetting carbon emissions, participating with third events, and enhancing gasoline effectivity; (ii) the Firm’s objective to develop its operations; (iii) the Firm’s fleet plans, expectations, and initiatives; and (iv) the Firm’s plans, estimates, and assumptions associated to capital spending.  Ahead-looking statements contain dangers, uncertainties, assumptions, and different elements which are tough to foretell and that might trigger precise outcomes to range materially from these expressed in or indicated by them. Components embody, amongst others, (i) any adverse developments associated to the COVID-19 pandemic, together with, for instance, with respect to the length, unfold, severity, or any recurrence of the COVID-19 pandemic; any new variant strains of the underlying virus; the effectiveness, availability, and utilization of vaccines; the length and scope of governmental orders and restrictions associated to the COVID-19 pandemic; the extent of the impression of the COVID-19 pandemic on total demand for air journey and the Firm’s associated enterprise plans and choices; the impression of the COVID-19 pandemic on the Firm’s potential to retain key Workers; and the impression of the COVID-19 pandemic on the Firm’s entry to capital; (ii) the impression of legislative and regulatory exercise associated to carbon emissions, particularly with respect to sustainable aviation gasoline tax credit and compliance necessities; (iii) the Firm’s dependence on Boeing with respect to the Firm’s fleet supply schedule and associated fleet modernization; (iv) the Firm’s dependence on the FAA with respect to the NextGen program; (v) the Firm’s dependence on different third events, particularly with respect to the manufacturing, transport, storage, and distribution of sustainable aviation gasoline, and the impression on the Firm’s objectives and plans of any third occasion delays or non-performance; (vi) the Firm’s potential to well timed and successfully implement and keep the mandatory processes to help the utilization of sustainable aviation gasoline; (vii) the impression of financial situations, governmental actions, climate-related situations and climate occasions, gasoline costs, actions of opponents, socio-demographic tendencies, shopper notion, and different elements past the Firm’s management, on the Firm’s enterprise choices, plans, methods, and objectives; (viii) the Firm’s and Boeing’s dependence on different third-party suppliers to carry out in accordance with expectations in reference to the manufacture and supply of plane; and (ix) different elements, as described within the Firm’s filings with the Securities and Trade Fee, together with the detailed elements mentioned beneath the heading “Danger Components” within the Firm’s Annual Report on Type 10-Okay for the fiscal 12 months ended December 31, 2020, and within the Firm’s Quarterly Report on Type 10-Q for the fiscal quarter ended June 30, 2021. Warning must be taken to not place undue reliance on the Firm’s forward-looking statements, which characterize the Firm’s views solely as of the date this launch. The Firm undertakes no obligation to replace publicly or revise any forward-looking assertion, whether or not on account of new info, future occasions, or in any other case.

ABOUT SOUTHWEST AIRLINES CO.
In its 51st 12 months of service, Dallas-based Southwest Airways Co. continues to distinguish itself from different air carriers with Buyer Service delivered by greater than 54,000 Workers to a Buyer base that topped 130 million Passengers in 2019. Southwest has a sturdy community of point-to-point service with a powerful presence throughout high leisure and enterprise markets. In peak journey seasons throughout 2019, Southwest operated greater than 4,000 weekday departures amongst a community of 101 locations in the USA and 10 further nations. In 2020, the service added service to Hilo, Hawaii; Cozumel, Mexico; Miami; Palm Springs, Calif.; Steamboat Springs; and Montrose (Telluride), Colo. So far in 2021, Southwest has initiated service to Chicago (O’Hare) and Sarasota/Bradenton each on Feb. 14; Savannah/Hilton Head and Colorado Springs each on March 11; Houston (Bush) and Santa Barbara, Calif. each on April 12; Fresno, Calif. on April 25; Destin/Fort Walton Seashore on Could 6; Myrtle Seashore, S.C. on Could 23; Bozeman, Mont. on Could 27; Jackson, Miss. on June 6; and Eugene, Ore. on Aug. 29. The service will start service to Bellingham, Wash. on Nov. 7; and Syracuse on Nov. 14.  

The service issued its Southwest® Promise in Could 2020 to spotlight new and round the clock efforts to help its Clients and Workers well-being and luxury. Among the many adjustments are enhanced cleansing efforts at airports and onboard plane, together with a federal mandate requiring each individual to put on a masks always all through every flight. Further particulars in regards to the Southwest Promise can be found at Southwest.com/Promise.     

Southwest coined Transfarency® to explain its purposed philosophy of treating Clients actually and pretty, and low fares really staying low. Southwest is the one main U.S. airline to supply luggage fly free to everybody (first and second checked items of bags, measurement and weight limits apply, some carriers supply free checked luggage on choose routes or in certified circumstances). Southwest doesn’t cost change charges, although fare variations would possibly apply.   

Southwest is without doubt one of the most honored airways on this planet, identified for a triple backside line method that contributes to the service’s efficiency and productiveness, the significance of its Folks and the communities they serve, and an total dedication to effectivity and the planet. Be taught extra about how the service offers again to communities the world over by visiting Southwest.com/citizenship.   

Guide Southwest Airways’ low fares on-line at Southwest.com or by telephone at 800-I-FLY-SWA®.

SOURCE Southwest Airways Co.

Associated Hyperlinks

http://www.southwest.com