- National carrier Qantas Airways (QAN) plans to cut carbon emissions by 25 per cent and source 10 per cent of its fuel from renewable energies by 2030
- The ASX-200 lister announced its group climate action plan, with CEO Alan Joyce saying “climate change is a big challenge but we will get there”
- Mr Joyce said the group is looking at new aircraft that burn about 15 to 20 per cent less fuel
- Additionally, over the next few years, customers on Qantas and Jetstar flights will see less plastic, as the group plans to be plastic free by 2027
- QAN shares are down 0.19 per cent, trading at $5.25 per share
Qantas Airways (QAN) is planning to reduce carbon emissions by around 25 per cent by 2030 and will source 10 per cent of its fuel from renewable energies.
The flying kangaroo will be phasing out single-use plastics on flights by 2027, including its Jetstar operations, and aim for zero landfill waste by 2030.
“Hydrogen or electric powered aircraft are several decades away, particularly for the length of most flights, so our plan is focused on the technology that is within reach today,” CEO Alan Joyce.
“We’ve had a zero net emissions goal for several years, so today’s interim targets are about accelerating our progress and cutting emissions as quickly as technology allows.”
Mr Joyce said the group is looking at new aircraft that burn about 15 to 20 per cent less fuel. Qantas is already using sustainable aviation fuel for its London flights that can cut emissions by up to 80 per cent.
“One benefit of setting these targets now is sending a clear signal that we’re in the market for large volumes of sustainable aviation fuel, for carbon offset projects and for products that can be recycled. That will hopefully encourage more investment and build more momentum for the industry as a whole,” he said.
“Responding to climate change is a big challenge, but we will get there.”
Qantas has also committed to building its carbon offset program ahead of its broader net-zero by 2050 goal. It announced it is signing a Memorandum of Understanding with ANZ and INPEX for a major integrated reforestation and carbon farming project in Western Australia’s wheatbelt region.
QAN shares are down 0.19 per cent, trading at $5.25 per share at 3pm AEDT.