Doing the Right Thing Pays Its Own Kind of Dividend.
Global Jet Capital’s CleanFlight Carbon Offset Program provides clients with options and preferred pricing should they choose to offset the greenhouse gas emissions related to their business aircraft through the purchase of verified carbon offsets.
Global Jet Capital is working to increase awareness of the impacts of climate change. In partnership with Carbonfund.org, a US-based 501(c)(3) nonprofit organization, Global Jet Capital will provide clients with access to the knowledge and expertise required to make informed decisions about offsetting the impact of their aircraft operations on the environment through the acquisition of verified carbon offsets.
Carbon Offset Program
A carbon offset is a certificate representing the reduction of one metric ton (2,205 lbs) of carbon dioxide emissions, a principal contributor to climate change. Although complex in practice, carbon offsets are simple in theory.
Any project that reduces carbon dioxide emissions and completes the validation and verification process for voluntary carbon offset projects can result in the production of carbon offsets. In this case, every ton of emissions reduced results in the creation of one carbon offset. Project developers then sell these offsets to finance their projects. Carbon offsets therefore are an available tool for individuals and organizations that wish to mitigate the impact of their own carbon footprints. Note that these carbon offsets are not applicable for compliance with government regulations/stipulations.
Carbon emission reduction projects reduce the amount of greenhouse gases in the atmosphere in one of three ways:
- By capturing and destroying a greenhouse gas that would otherwise be emitted into the atmosphere. An example of this is a methane gas capture project at a landfill.
- By producing energy using a clean, renewable resource that eliminates the need to produce that same energy from fossil fuels, the burning of which releases greenhouse gas into the atmosphere. An example of this is wind power.
- By capturing and storing (or “sequestering”) greenhouse gases from the atmosphere. An example of this is a project that promotes the healthy growth and maintenance of forests.
How do I take advantage of Global Jet Capital's CleanFlight Carbon Offset Program?
At the time of negotiating an operating lease, finance lease or loan, Global Jet Capital with the support of Carbonfund.org will assist you in determining the size of the carbon footprint associated with your aircraft. This will be based on the fuel burn associated with the make and model of your aircraft, anticipated annual operations, and desired years of coverage.
Based on the parameters above, Global Jet Capital will arrange the purchase of the appropriate number of carbon offsets to cover your anticipated usage partially or fully at our discounted rate.
At the time of deal close, Global Jet Capital will work with the client and Carbonfund.org to facilitate payment and the delivery of appropriate documentation of the offset.
Frequently Asked Questions:
How do I determine how many offsets to purchase?
With support from Carbonfund.org, Global Jet Capital will help you calculate your aircraft’s hourly fuel burn and associated CO2e Metric Tonnes per Hour for the years of coverage you select. The amount of carbon offsets you want to acquire is entirely up to you.
What if it is difficult to estimate my anticipated my annual aircraft usage?
If it is the case that anticipating average annual aircraft usage is difficult, we suggest clients simply take an average of either lowest or highest anticipated usage. Keep in mind, acquisition of carbon offsets under the CleanFlight Carbon Offset Program is completely voluntary and is not intended to satisfy government regulations regarding environmental mitigation.
Do I need to purchase carbon offsets for the entire projected ownership life, or can I purchase carbon offsets on an annual basis?
The CleanFlight Carbon Offset Program is tied to the closing of our client’s lease or loan transaction based upon anticipated usage. Clients can choose to pursue an annual purchase privately with Carbonfund.org, but they will not benefit from Global Jet Capital’s negotiated discount.
Can I use offsets purchased to address governmental environmental mitigation requirements, such as the European Union Emission Trading Requirements?
The CleanFlight Carbon Offset Program is completely voluntary on your part. Governmental requirements around environmental mitigation can vary significantly and as such, this program is not intended to satisfy such requirements.
Do I have to purchase carbon offsets through the Global Jet Capital CleanFlight Carbon Offset Program, or can I work directly with Carbonfund.org?
The CleanFlight Carbon Offset Program is designed to be a one-time purchase for all new or existing clients. Clients can choose to pursue an annual purchase privately with Carbonfund.org, but they will not benefit from Global Jet Capital’s negotiated discount.
How are the funds sent to Carbonfund.org used?
Carbonfund.org uses the proceeds from your purchase to purchase and retire the quantity of carbon credits that correspond to the quantity of carbon emissions calculated from the private aviation flights and fuel consumption. These carbon credits are produced by third-party validated and verified voluntary carbon offset projects around the world. The sale of the carbon credits is the primary method of funding for these carbon emissions reduction, avoidance, and sequestration projects.
The average aircraft will burn 421 gallons of Jet A fuel per hour or 4.10 CO2e Metric Tonnes per Hour. Using Carbonfund.org’s average retail price of $17.50 USD / per metric tonne for carbon offsets, an operator of an aircraft being flown 300 hours in a year will want to purchase $21,525 USD worth of carbon offsets, which after applying Global Jet Capital’s negotiated 10% discount would cost $19,373
Under these conditions, an aircraft owner looking to cover operations of this nature over the entirety of a 7-year lease or loan would want to make an upfront purchase of $135,611 USD (after Global Jet Capital discount pricing).
Average Long Range Aircraft Usage
Carbonfund.org Foundation is a leading 501(c)(3) non-profit organization leading the fight against climate change, making it easy and affordable for business, organization or individual to reduce and offset their climate impact and hasten the transition to a clean energy future. Carbonfund.org achieves its goals through: Climate change education, Carbon offsets and reductions, and Public outreach. In its 17-year history, Carbonfund.org has supported over 200 third-party validated and verified voluntary carbon offset projects across 25 countries and 42 of the US states. Learn more at www.carbonfund.org.
Carbonfund.org supports three types of carbon offset projects; each plays an important role in the fight against climate change