Luxaviation, a leading private aviation group, has accelerated its commitment to achieve net-zero carbon emissions for its operations by 2030. The company announced the launch of its "Go-to-Zero" investment fund, aimed at implementing a comprehensive sustainability strategy across all aspects of its business.
Acknowledging the limitations of carbon offsetting as an imperfect solution, Luxaviation is adopting a holistic and aggressive approach to sustainability. The undisclosed investment in the "Go-to-Zero" fund will support the introduction of various technologies, including electric ground vehicles and sustainable aviation fuels derived from renewable sources.
Luxaviation Group CEO Patrick Hansen emphasized the company's proactive stance, stating, "The outcomes of COP28 served as a catalyst for our decisive action. Luxaviation chooses to lead the charge in transforming the business aviation sector into a more sustainable industry." The company aims to achieve net-zero carbon emissions faster than initially anticipated, expressing confidence in the support of its clients and partners.
Luxaviation encourages other private aviation stakeholders to join its efforts in accelerating carbon footprint reductions within the industry. The company issued an open invitation for contributions to the "Go-to-Zero" fund, pledging an initial investment of €50 million ($55 million) over the next seven years. The fund's value and scope could expand with additional support from other parties.
With its 60th anniversary approaching in 2024, Luxaviation operates an extensive fleet of jets and helicopters worldwide, holding multiple Air Operator Certificates (AOCs). The company has previously expressed interest in operating Lilium's all-electric, six-passenger eVTOL aircraft in 2021.