United Airlines (UAL) has launched the Sustainable Flight Fund, which looks to decarbonize air travel.
The first-of-its-kind fund is set to fund the research, production and technologies related to sustainable aviation fuel, which is biofuel made from renewable biomass and waste resources that, per Energy.Gov, “have the potential to deliver the performance of petroleum-based jet fuel but with a fraction of its carbon footprint, giving airlines solid footing for decoupling greenhouse gas emissions from flight.”
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Cutting down on our collective carbon emissions is a huge part of combatting the effect of climate change, and the fund is looking to invest in companies developing the needed low-carbon and carbon-free alternatives. And, in an effort to get everyone on board, United is running a mileage promotion to its customers.
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Important Program Details
The UAV Sustainable Flight Fund will start off with $100 million in investments from United, as well as from its partners Boeing (BA), GE Aerospace (GE), Honeywell, Air Canada (ACDVF) - and financial service company JPMorgan Chase (JPM).
You can also contribute to the fund, if you are a United Airlines customer.
Anyone who buys a ticket on the United Airlines' website will be offered to contribute between $1-7 to the fund, as reported by Simple Flying, which clarifies “this is not an equity crowdfunding, so do not expect any returns.”
But even if you don’t get returns, you can have the satisfaction of knowing you’re helping to fund a future for sustainable aviation, and therefore the world as a whole.
And as a nice bonus, the first 10,000 people who contribute to the fund will receive 500 MilleagePlus Miles.
