Jblu Stock Falls as Jetblue Pursues Net Zero Carbon Emissions by 2040

Jblu Stock

JetBlue Airways Corporation (NASDAQ:JBLU)

JetBlue Airways Corporation (NASDAQ:JBLU) recently announced a new science-based target to reduce well-to-wake (lifecycle) scope 1 and 3 greenhouse gas emissions related to jet fuel by fifty percent per revenue tonne-kilometer by the year 2035, with 2019 serving as the base year. JBLU stock declines despite the company’s aim to achieve the target soon.

JBLU stock announced that it is the most ambitious near-term emissions reduction objective established to date. It also coincides with the Paris Agreement’s objectives and the airline’s goal, which is to attain By 2040, there will be no net emissions of carbon.

Chief Executive Officer of JetBlue, Robin Hayes, issued the following statement: “We are calling on governments, aircraft and engine manufacturers, and fuel suppliers to promote the development of the goods and solutions that airlines need to meet our ambitious objectives.”

The airline also said that it will speed up the process of retiring its E190 fleet, with the last E190 aircraft expected to retire in 2025.

The airline will expand its investments in lower-carbon solutions within its business. It will examine future sustainability investments with its science-based aim to fulfill the ambitious near-term target. JetBlue (JBLU) also said that it appreciates how important external partners are to the decarbonization of the aviation sector and is dedicated to promoting and assisting in initiatives made by fuel suppliers, governments, regulatory bodies, and manufacturers of aircraft and engines to reach their respective GHG emission reduction objectives.

JBLU intends to conduct frequent reviews and make necessary adjustments to the aim if any significant changes are made to the company’s business or organizational structure.

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