-- Program enables Flexjet owners to offset environmental impact of
-- Flexjet will pay to offset all non-owner flights
DALLAS, Oct. 6 /PRNewswire/ -- Flexjet, the fractional business jet
ownership program of Bombardier, today announced a new program providing
Flexjet owners the opportunity to offset carbon emissions each time they fly.
Climate Care, a world-leading carbon offset provider and a division of
JPMorgan's environmental markets group, has been selected as Flexjet's partner
in this environmental initiative.
Beginning October 2008, all new and existing Flexjet owners may join this
voluntary program to offset CO2 emissions to make their flights carbon
neutral. Program participants will pay a per-hour fee sufficient to fund
activities that generate an equal reduction in emissions. Funds from the
offset program will be invested in Climate Care projects worldwide, which
reduce carbon emissions and distribute renewable, sustainable technology. As
part of the program, Flexjet will also offset all non-owner flights, including
flights for demonstration and maintenance purposes.
"Flexjet is pleased to offer its owners the opportunity to take
responsibility for their flights and help offset their carbon emissions," said
Fred Reid, President, Bombardier Flexjet. "We realize that until technological
advances produce truly low emissions aircraft, the best opportunity to
minimize climate impact is to balance flight emissions with projects and
technologies that reduce environmental impact around the world."
"We selected Climate Care as a partner after extensive research concluded
that the company offers the highest standards for choosing, measuring and
reporting on its programs to balance carbon emissions," Mr. Reid added.
Seeking effective, credible responses to concerns about global climate
change is also an important goal for Bombardier, Flexjet's parent company. In
2007, Bombardier became the first original equipment manufacturer (OEM) to
introduce a carbon offset program for its new business aircraft customers. As
of February 1, 2008, new buyers have the option to take part in the Bombardier
carbon offset program managed by UK-based Climate Care. Enrollment in the
program, for the duration of one year, is offered to customers as an option
after the aircraft purchase. The funds are then invested in Climate Care's
green energy projects to reduce an equivalent amount of carbon. As part of its
commitment to deliver high quality products and services in an environmentally
responsible way, Bombardier enrolled its business jets demonstration fleet and
PartsExpress aircraft in the Climate Care carbon offset program.
In addition, Bombardier was the only company in the aerospace industry to
be listed as an index component to the Dow Jones Sustainability World and
North America indexes in 2007. Launched in 1999, the Dow Jones Sustainability
Indexes are the first global indexes tracking the financial performance of the
leading sustainability-driven companies worldwide.
"Climate Care is pleased that Flexjet is seeking environmentally
responsible solutions to minimize the climate impact of carbon emissions,"
said Edward Hanrahan, Executive Director, Climate Care. "We look forward to
working with Flexjet to balance carbon emissions by investing in projects
designed to replace fossil fuel burning technologies with low-carbon
Climate Care takes a global approach to addressing climate change by
investing in a global portfolio of renewable energy and energy efficiency
projects that adhere to principles such as additionality and permanence. All
Climate Care projects are designed to attain verification to one of the
internationally recognized standards for emissions reductions projects.
Climate Care's portfolio of projects includes:
-- Methane Destruction in the United States--The project funds a system
collect and destroy harmful landfill gases that otherwise would vent
into the atmosphere--reducing greenhouse gas emissions by thousands of
tons per year.
-- Efficient Stoves in Uganda--By supplying high-efficiency wood-burning
stoves to families in Uganda, this program reduces the amount of fuel
needed and therefore the amount of carbon emitted.
-- Biomass Power in India--In Uttar Pradesh, waste bagasse, the fiber
over after the sugar manufacturing process, is being used as fuel for
power and heat generation.
-- Wind Power in China--A program to harness wind power to generate
electricity in the Mulan County of China is cutting emissions by
reducing the amount of electricity that would have been generated by
conventional fossil fuels.
Established in 1995 and based in Richardson, Texas, Flexjet offers a
turnkey program allowing individuals or companies to purchase a share in a
Bombardier business jet at a fraction of the full ownership cost. Flexjet
owners select the aircraft type that best fits their needs, determine the
number of hours per year they expect to fly, and purchase shares starting at
1/16th (equal to 50 hours of flying).
Owners pay predictable monthly management and usage fees, while Flexjet
manages aircraft maintenance, flight crews, hangars, fuel and insurance on
their behalf. Flexjet fields an exclusive family of Bombardier business jets,
including the Learjet 40 XR, Learjet 45 XR, Learjet 60 XR, Challenger 300 and
newly redesigned Challenger 605 business jets. The Flexjet One program is an
aircraft management service providing owners who purchase a whole Bombardier
aircraft access to Flexjet's entire fractional fleet, cost savings and a
simple, worry-free solution to aircraft ownership. The Flexjet 25 jet card
program, operated by Jet Solutions LLC, provides travel-by-the-hour on the
Flexjet 25 fleet of Bombardier aircraft.
A world-leading manufacturer of innovative transportation solutions, from
regional aircraft and business jets to rail transportation equipment, systems
and services, Bombardier Inc. is a global corporation headquartered in Canada.
Its revenues for the fiscal year ended Jan. 31, 2008, were $17.5 billion US,
and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is
listed as an index component to the Dow Jones Sustainability World and North
America indexes. News and information are available at www.bombardier.com.
Bombardier, Flexjet, Flexjet 25, Learjet and Challenger are either
registered or unregistered trademarks of Bombardier Inc. or its subsidiaries.
For further information:
For further information: Erin Portman, +1-512-448-0502,
Erin.Portman@TeamOne-Usa.com, for Flexjet Web Site: http://www.bombardier.com