Southwest Airlines Unveils 10-Year Environmental Sustainability Plan

southwest oct19 lt

Southwest Airlines Co. (LUV) on Monday announced a series of near-term goals, actions, and initiatives in support of a 10-year plan that aims at maintaining carbon neutrality to 2019 levels and achieving carbon neutral growth every year through the end of the decade. The company's plans to reduce, replace, offset, and partner is part of the ultimate objective of achieving carbon neutrality by 2050.

The airline has planned to reduce its carbon emissions per available seat mile (including scope 1 and scope 2 emissions) by at least 20 percent by 2030 through fleet modernization, route optimization, and other initiatives.

The airline also plans to replace 10 percent of its total jet fuel consumption with sustainable aviation fuel (SAF) by 2030.

The company will launch a carbon offset offer with loyalty points in such a way that for every dollar contributed toward offsetting Southwest's carbon emissions, Southwest will be making matching contribution. It hopes to be the first U.S.-based airline to do so.

In addition, the Dallas-based airline said it would continue to partner with organizations and non-profits whose work complements its efforts to improve environmental sustainability and would also invite customers to join in the effort.

Shares of Southwest Airlines closed Monday's trading at $49.77, down $0.59 or 1.17 percent from previous close.

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