Warren Buffett's Jet Company Makes Carbon Offseting Mandatory

netjets plane

While this isn't likely to make a lick of difference to you or us, it should garner the attention of those eco-celebs who still do quite a bit of flying to promote their initiatives. NetJets, the jet company owned by Buffett's Berkshire Hathaway, has just announced that from now on it plans on incorporating the costs of carbon offsetting into the bills of their European operations' clientele - which will add about €4,000 (or £2,720) to a customer's yearly cost.

According to Mark Booth, the chairman of NetJets Europe, 3 of the company's top 5 customers have already signed up for the new initiative and he anticipates that others will be quick to follow suit (and, if they don't, they will automatically be signed up upon renewing their contracts). The company will be working with EcoSecurities, an Oxford-based company, for its offsetting projects. As part of its environment strategy, Booth also said that NetJets Europe will fund a next-generation jet fuel project at Princeton University.

The NetJets Europe boss pushed the environment strategy, which includes funding for a next-generation jet fuel project at Princeton University in the US, after meeting Professor Dan Esty, an environmental academic, at the Davos forum. "This is a unique programme that will set the bar for everyone else," said Prof Esty. NetJets will invest in carbon offsetting projects through EcoSecurities, an Oxford-based company. Carbon offsetting allows firms to invest in schemes such as tree planting that atone for the negative effects of the carbon dioxide they generate.

Via ::Guardian Unlimited: Private jet firm makes carbon offsetting mandatory (news website)

See also: ::Bio-fuel Tested in Commercial Jet Engine, ::Biofuels for Jet Planes - Branson Reveals (a little) More

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