Boeing will work with Airbus and Embraer to develop and promote aviation biofuels, the Chicago-based aerospace firm announced Thursday.
Jim Albaugh, commercial airplanes president and CEO, signed the agreement with Airbus President and CEO Tom Enders and Paulo Cesar Silva, Embraer’s commercial aviation president.
Albaugh said the price of oil and the impact of commercial air travel on the environment are the two biggest threats to the industry.
The three companies will work on sustainable biofuels to accelerate their availability and reduce the industry’s environmental impacts, he added.
The companies will work with government officials and those who produce and provide biofuel to promote the development of sustainable fuels in line with industry’s goal to halve industry emissions by 2050 based on 2005 levels.
Enders said producing sustainable quantities of aviation biofuels is key to meeting the industry’s carbon dioxide reduction targets.