Market Herald logo

Subscribe

Be the first with the news that moves the market
  • CAE Inc (TSX:CAE) has announced plans to become carbon neutral by summer 2020.
  • The company aims to do so by offsetting carbon emissions, funding greenhouse gas reduction projects, and supporting renewable energy development.
  • CAE will also work with the aviation industry to further reduce emissions.
  • These are interim measures that CAE will use until new ways to reduce emissions are developed.
  • CAE’s share price is up by 3.36 per cent, with shares trading at $41.49 apiece.

Global industry training company CAE Inc (CAE) has announced intentions to become carbon neutral by the summer of 2020.

CAE made the announcement today at the Montreal Council on Foreign Relations (CORIM), and detailed the methods which the company plans to use to reach this goal.

Currently, CAE produces carbon emissions from various sources, including fuel used in company academy training flights, energy consumption of CAE locations, and employee business-related air travel.

CAE’s first avenue for achieving corporate carbon neutrality will be to offset these carbon emissions. The company will also be using simulators to train more than 135,000 pilots, in order to reduce emissions.

Additionally, CAE will look to fund projects which reduce greenhouse gases.

Furthermore, CAE plans to compensate for the company’s electricity consumption by buying renewable energy certificates, which support renewable electricity development. 

CAE has conceded that these are only interim measures, which the company will use until the development of more efficient technologies and solutions.

In the meantime, CAE plans to work closely with the aviation industry to further reduce emissions. The company will achieve this by using electric aircraft for live flight training, and making full-flight simulators more energy efficient.

CAE’s share price is up by 3.36 per cent, with shares trading at $41.49 apiece.

More From The Market Herald

" POET Technologies (TSXV:PTK) signs marketing agreement with Stockhouse

POET (PTK) has enlisted Stockhouse Publishing to expand its investor outreach.
Turnium Technology Group

" Turnium Technology (TSXV:TTGI) adds to management team and Board of Directors

Turnium Technology Group (TTGI) has announced new additions to its Management Team and Board of Directors.

" Fandifi (CSE:FDM) teams up with Esports Awards

Fandifi (FDM) is teaming up with Esports Awards to present day #1 of LVL Up Las Vegas.

" Fandifi (CSE:FDM) platform to go live on November 10

Fandifi (FDM) announced that sign-ups for Fandifi’s Beta Launch are completed, and the Fandifi platform will go live on November 10, 2022.