Delta will invest $1 billion to become first carbon-neutral airline

Delta will invest $1 billion over the next decade in an effort to become the world’s first carbon-neutral airline, the company announced Friday.

The world’s biggest airline has previously made efforts to mitigate its carbon impact by purchasing more fuel-efficient aircraft and eliminating single-use plastics, but the new initiative would instantly make it the industry leader.

“There’s no challenge we face that is in greater need of innovation than environmental sustainability, and we know there is no single solution,” Delta Chief Executive Ed Bastian said in a statement.

As of now, there are not many quick options available for airlines to reduce their carbon footprint. Biofuels are in short supply and take years to develop.

In addition, there are no immediate prospects of newer jet engines that are more fuel-efficient than those currently on the market.

Airlines say small steps like single-engine taxiing and the use of lighter materials are cutting around 1 percent to 2 percent of emissions each year.

In the absence of more impactful short-term options, the industry has committed to a carbon-offset program that allows airlines to invest in verified environmental projects to offset their emissions.

But that is not the target of the new $1 billion investment, which will begin in March.

Delta did not provide details on how it will invest the money, but the airline will likely use some of it on the carbon-offset program.

The aviation industry accounts for roughly 2 percent of global carbon dioxide emissions and has a plan to achieve carbon-neutral growth beginning in 2020, even as air travel is forecast to accelerate.