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Joby, JetBlue team up to create credits for clean flight technology

Stock MarketsJul 13, 2021 07:05PM ET
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© Reuters. FILE PHOTO: JetBlue Airways aircraft are pictured at departure gates at John F. Kennedy International Airport in New York June 15, 2013. REUTERS/Fred Prouser/File Photo

(Reuters) - Electric air taxi startup Joby Aviation, JetBlue Airways (NASDAQ:JBLU) Corp and Signature Flight Support are teaming up to develop aviation carbon credits for using electric and hydrogen propulsion technologies, the companies said on Tuesday.

The move, which aligns with the U.S. aviation industry's goal to achieve net-zero carbon emissions by 2050, includes the companies deciding on how the credits will be created, validated and used in the aviation carbon market. [nL4N2LT0A1]

U.S. lawmakers in May planned to introduce a bill that would create a tax credit for lower-carbon sustainable aviation fuel, which they hope will slash emissions of greenhouse gases from the aviation industry.

"This partnership allows JetBlue... evolve the type of offsets we purchase and help support the development of electric and hydrogen aviation — critical levers for meeting the U.S. aviation industry's net-zero goals," Sara Bogdan, head of sustainability and environmental social governance at JetBlue, said.

While electric and hydrogen propulsion technologies are in their nascent stages, operations using those technologies will begin to reduce emissions in the short-haul category on a per-seat-mile basis, the companies said.

California-headquartered Joby is developing an electric aircraft that it intends to operate as an air taxi service, while Signature Flight offers services such as refueling and maintenance.

Joby, JetBlue team up to create credits for clean flight technology
 

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