REG-easyJet plc easyJet launches SBTi aligned net-zero roadmap

easyJetAnnouncement

26/09/2022 07:15

============

   easyJet plc (EZJ)
   easyJet launches SBTi aligned net-zero roadmap

   26-Sep-2022 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   26 September 2022

                                        

                                  easyJet plc

                                  (‘easyJet’)

                                        

                 easyJet launches SBTi aligned net-zero roadmap

                                        

      easyJet continues its sustainability journey today by setting out an
                         ambitious plan through to 2050

                                        

     • SBTi aligned roadmap with targets to achieve

          ◦ 35% carbon emission intensity reduction by 2035 (validated by
            SBTi)1
          ◦ 78% carbon emission intensity reduction by 2050 with residual
            emissions addressed through carbon removals

     • Focus on new technology with the ambition to achieve zero carbon
       emission flying across entire fleet in the long-term
     • Sustainability investments to focus on delivering this roadmap
       including Rolls Royce partnership and descent profile optimisation
       enhancements   

    

   Overview

   easyJet is a highly efficient operator with carbon intensity c. 18% lower
   than the global narrowbody average2. Today’s announcement sets out the
   next phase on the airline’s journey to achieve net-zero carbon emissions
   by 2050. Investments will transition away from offsetting to focus on
   driving in-sector emission reductions to deliver our Net Zero roadmap.

   There are a number of levers which will help us achieve this target which
   include:

   Fleet renewal: NEO aircraft minimise fuel burn and emissions through
   current technology of which easyJet has 168 aircraft orders3 to be
   delivered up until FY29. 

   Operational efficiencies: Delivered through fuel savings from numerous
   initiatives including Descent Profile Optimisation, single engine taxiing
   and engine washing.

   Sustainable Aviation Fuels (SAF): easyJet will use at scale in line with
   Refuel EU proposed mandates as a minimum.

   Airspace modernisation: Potential to achieve at least a 10% reduction by
   2035 through implementation of Single European Sky and modernisation of UK
   airspace.

   Zero carbon emission aircraft: Committed to be an early adopter in
   transitioning the fleet when the technology is available and commercially
   viable.

   Carbon removal technology: Residual emissions will be removed to reach
   net-zero by 2050.

   Johan Lundgren, CEO of easyJet, said:

   “Challenging the status quo is in easyJet’s DNA - from making flying
   affordable for everyone, to leading the sector on decarbonisation. I’m
   very proud to be able to confirm today that our target of a further 35%
   reduction in carbon emissions intensity by 2035 has now been validated by
   the Science-Based Targets initiative – making easyJet the first low-cost
   carrier worldwide to have announced this. Since 2000, over a twenty year
   period, we have already reduced our carbon emissions per passenger, per
   kilometre by one-third, so this marks a significant acceleration in our
   decarbonisation.

   “Today, we’re the first airline to outline an ambitious roadmap in which
   zero carbon emission technology plays a key role to take us to net-zero
   emissions by 2050 and ultimately to zero carbon emission flying across our
   entire fleet. And I’m really pleased that our partner Rolls Royce has also
   confirmed today it is making final preparations for the first hydrogen
   engine tests to take place.   

   “We will be implementing our roadmap step by step in the years to come,
   helping to ensure more sustainable travel is accessible to all for the
   benefit of the next generation and our planet.” 

   Presentation

   easyJet’s CEO, Johan Lundgren and interim COO David Morgan will be hosting
   a live streamed presentation this morning at 11:30am. This can be accessed
   via the following link:
    1 https://easyjetnetzero.com/investor-relations-registration.

    

   Current Traffic Stats

    

                          July 22 August 22 July 21 August 21
   Passengers (thousand)    8,137     8,310   3,690     5,126
                                                             
   Seats flown (thousand)   8,747     8,928   4,989     6,502
                                                             
   Load factor                93%       93%     74%       79%

    

   For further details please contact easyJet plc:

    

   Institutional investors and analysts:
   Michael Barker   Investor Relations       +44 (0) 7985 890 939
   Adrian Talbot    Investor Relations       +44 (0) 7971 592 373
                                              
   Media:   
   Anna Knowles     Corporate Communications +44 (0) 7985 873 313
   Edward Simpkins  FGS Global               +44 (0) 7947 740 551 / (0) 207
                                             251 3801
   Dorothy Burwell  FGS Global               +44 (0) 7733 294 930 / (0) 207
                                             251 3801

    

   Notes:

    1. easyJet plc commits to reduce well-to-wake GHG emissions related to
       jet fuel from owned and leased operations by 35% per revenue tonne
       kilometre (RTK) by FY2035 from a FY2019 base year. The target boundary
       includes biogenic emissions and removals from bioenergy feedstocks.
       Non-CO2e effects which may also contribute to aviation induced warming
       are not included in this target.
    2. Based on global narrowbody CO2/RPK in 2019 (ICCT)
    3. As at 16 August 2022 

    

   ══════════════════════════════════════════════════════════════════════════

   ISIN:           GB00B7KR2P84
   Category Code:  MSCM
   TIDM:           EZJ
   LEI Code:       2138001S47XKWIB7TH90
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   190143
   EQS News ID:    1448813


    
   End of Announcement EQS News Service

   ══════════════════════════════════════════════════════════════════════════

    2 fncls.ssp?fn=show_t_gif&application_id=1448813&application_name=news&site_id=refinitiv

References

   Visible links
   1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=2ca67237b6fecbc4316b4af3d7be9019&application_id=1448813&site_id=refinitiv&application_name=news


============