International

New investment plans to eliminate airline emissions

August 31, 2021

 

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Airline travel accounts for two percent of greenhouse gas emissions, and is anticipated to be two to four times higher in the coming years. A new investment in Mercy Investment Services’ Environmental Solutions Fund is developing an alternative technology that may drastically alter airlines’ emissions in the future.

ZeroAvia is the world’s first practical, zero-emission aviation powertrain system, using a hydrogen fuel cell system that utilizes green hydrogen, which is hydrogen produced using renewable energy. ZeroAvia currently plans to enable 500-mile trips in a 10-20 seat regional aircraft by 2024. The company intends to scale the technology for larger aircraft in the future. Watch this short video to see ZeroAvia’s successful test flight.

This investment in the Environmental Solutions Fund parallels ongoing shareholder engagements with airlines. Mercy Investment Services has been engaging American, United and Delta on how they can help address climate change by ensuring that their greenhouse gas emissions reach net zero by 2050. Following engagement, all three airlines announced goals to move toward net zero or carbon neutrality by mid-century, but investments in new technology will be needed if they are to reach those goals. Investing in creative solutions while advocating with corporations to make significant changes is part of Mercy’s multifaceted approach to the climate crisis. Learn more about our approach on our website.