Climate Policy Engagement Analysis
Climate Policy Engagement Overview: In 2021-23, JetBlue has mixed engagement with US climate change policy for aviation. JetBlue expresses positive top-line messaging on climate change and appears supportive of a sustainable aviation fuel blenders tax credit and low-carbon fuel standards, while appearing to support weakening the baseline for the CORSIA offsetting scheme. It retains memberships to Airlines for America (A4A) and the International Air Transport Association (IATA), which have negative engagement on climate policy.
Top-line Messaging on Climate Policy: JetBlue appeared to communicate positive top-line messaging on climate policy in 2021-23. In it’s 2022 Annual Report, published in 2023, JetBlue appeared supportive of the US aviation industry’s goal of net-zero CO2 emissions by 2050. This position appeared to be reiterated in a July 2021 press release. Similarly, in an October 2022 Earnings Call, JetBlue CEO, Robin Hayes, appeared to communicate support for the International Civil Aviation Organization’s goal of net-zero emissions from international aviation by 2050. In it’s 2021 ESG report, JetBlue seemed to support government regulation in response to climate change with the exception it is “reasonable” and “physically and financially viable”. JetBlue also appeared supportive of the US re-entering the Paris Agreement in its 2019-2020 ESG report, published in October 2021.
Engagement with Climate-Related Regulations: JetBlue’s 2019-2020 ESG report, published in October 2021, appeared supportive of the weakened global Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) by changing the baseline from an average of 2019-20 emissions to 2019 alone, stating it “retains the spirit of CORSIA and still holds the industry to an ambitious baseline as travel rebounds”.
In it’s 2022 Annual Report, published in 2023, JetBlue stated support for a sustainable aviation fuel (SAF)-blenders tax credit. This position was also echoed in its 2021 Annual report, published in 2022. JetBlue’s 2019-2020 ESG report, published in October 2021, similarly expressed support for the Sustainable Skies Act, describing the SAF-blenders tax credit as “an exciting and meaningful development”. Additionally, in a December 2022 World Finance Op-ed, a JetBlue Senior Executive expressed support for SAF provisions under the Inflation Reduction Act and disclosed that JetBlue “regularly engage in advocating for” federal and state-level policies promoting SAFs. JetBlue’s 2021 CDP response further advocated to increase the SAF-blenders tax credit by $0.50-$1 per gallon, alongside appearing to support the US Renewable Fuel Standard, however the supported biofuel sustainability criteria for both policies was not specified.
Regarding GHG emissions standards, in it’s 2019-2020 ESG Report, published in October 2021, JetBlue appeared supportive of California’s Low-Carbon Fuel Standard (LCFS) and appeared to advocate for a similar policy to be adopted by other states. Similarly, in a December 2022 World Finance Op-ed, a Senior Executive advocated for more state-level programs like California’s LCFS. JetBlue’s 2021 CDP response also appeared supportive of California and Oregon’s LCFS.
Positioning on Energy Transition: In 2021-23, JetBlue appeared to support a transition from kerosene jet fuel to sustainable aviation fuels, describing SAFs as “one of the most promising pathways to rapid and direct emissions reductions” on its corporate website, accessed in February 2023. JetBlue also appeared supportive of increased use of SAFs in its 2021 Annual Report, published in 2022. JetBlue further appeared to support the use of green hydrogen in aviation in its 2019-2020 ESG report, published in October 2021. In a July 2021 press release, a Senior Executive also described electric and hydrogen-powered aircraft as “critical levers for meeting the US aviation industry’s net-zero goals.” JetBlue CEO, Robin Hayes, also appeared to support electric and hydrogen powered aviation in an April 2021 Earnings Call.
Industry Association Governance: JetBlue has not published an industry association review but has disclosed its membership to industry associations in its 2021 ESG Report, published in 2022. JetBlue CEO, Robin Hayes, is Chairman of the Board of Directors at Airlines for America and sits on the Board of Governors at the International Air Transport Association, both of which have negative engagement on US and global climate policy for aviation.