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THE BOEING COMPANY

(BA)
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Delayed Nyse  -  04:00 2022-09-23 pm EDT
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Boeing : Takes New Role to Help Cut Aviation Emissions Faster

08/08/2022 | 11:05am EDT

ARLINGTON, Va., Aug. 8, 2022 - Boeing [NYSE: BA] will represent the aviation sector in a global alliance, jointly established by the US Government and World Economic Forum to accelerate clean technologies and reduce carbon emissions.

The First Movers Coalition (FMC) was created in late 2021 to leverage the purchasing power of major companies to speed up the pace of decarbonizing industrial sectors such as shipping, chemicals and trucking. Boeing, a founding member of the coalition, will serve as the 'champion' for the aviation sector.

As part of its new role, Boeing commits to supporting greater commercialization of sustainable aviation fuels and advancing other low-carbon technologies. Scaling up sustainable solutions is critical to the aviation sector's target of net-zero emissions by 2050 and the broader goal of holding global temperatures to 1.5°C above preindustrial levels, the so-called '1.5°C pathway'.

"We can only maintain the critical climate pathway of 1.5ºC if we jumpstart the market for disruptive zero-carbon technologies and make them as economically competitive as existing carbon-intensive solutions," said Nancy Gillis, Head of the First Movers Coalition. "I congratulate Boeing for its new championship role and look forward to working together on driving the need for and accelerating the use of these emerging technologies."

Boeing said it will leverage current technologies and increase industry partnerships in expanding sustainable aviation fuel supplies, while shaping strategies for developing new solutions.

"We are honored to serve as 'champion' for our sector and committed to partnering with FMC members and others on scaling SAF and accelerating low-carbon technologies to decarbonize aviation," said Brian Moran, Boeing Vice President of Global Sustainability Policy & Partnerships.

Boeing has recruited one of the leading experts in sustainable aviation fuels (SAF) to work with the more than 50 companies in the First Movers Coalition and other industry partners. Robert Boyd will join Boeing from the International Air Transport Association (IATA), where he led decarbonization efforts, including advancing the commercial deployment of SAF and addressing policy, economic, sustainability and logistic challenges. Boyd also served as a member of the United Nations International Civil Aviation Organization (ICAO) Fuels Task Group. Additionally, he served for four years on the Board of Directors for the Roundtable on Sustainable Biomaterials (RSB).

"Boeing has been a pioneer in making SAF a reality and having Robert join our team is further proof that we are 100% committed to working together to meet the industry's net-zero emissions commitment by 2050," said Moran.

Boeing's new role builds on the aerospace company's sustainability efforts, which includes the ecoDemonstrator program that in 2018 made the world's first commercial airplane flight using 100% sustainable fuels with a 777 Freighter, in collaboration with FedEx Express. Last year, Boeing partnered across the industry to decarbonize aerospace, including with SkyNRG, Alaska Airlines, Etihad Airways, NASA, Rolls-Royce, and United Airlines. Boeing is also making progress through its joint venture, Wisk, to bring to market the first all-electric, self-flying air taxi in the U.S. Boeing also has significant experience with hydrogen, conducting six technology demonstrations over the past 15 years.

Learn more about Boeing's sustainability commitments, partnerships and efforts in its recently released 2022 Sustainability Report and on Boeing's sustainability website.

# # #

Contact
Boeing Media Relations
Media@Boeing.com

Lisa Maull
Global Enterprise Sustainability
+314-614-4583
lisa.a.maull@boeing.com

Disclaimer

The Boeing Company published this content on 08 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2022 15:04:01 UTC.


© Publicnow 2022
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Net Debt 2022 41 087 M - -
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Capitalization 77 944 M 77 944 M -
EV / Sales 2022 1,70x
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Nbr of Employees 142 000
Free-Float 58,6%
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