Boeing reaffirms commitment to zero-carbon growth

Updated 28 January 2013
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Boeing reaffirms commitment to zero-carbon growth

The Boeing Company intends to continue growing its business without increasing its environmental footprint, Kim Smith, Boeing vice president of environment, health and safety, announced while visiting Qatar and the rest of the region recently.
Since the start of 2008, Boeing has reduced cumulative carbon dioxide emissions by more than 400,000 metric tons while increasing monthly airplane production by 35 percent, said Smith, Boeing’s leader for environmental sustainability.
The CO2 reduction is the equivalent of removing 80,000 cars from the road for one year.
Between 2008 and 2012, Boeing also implemented conservation efforts and successfully reduced water use by more than 2 billion liters — enough to fill more than 800 Olympic-sized swimming pools.
“Over the next few years, we intend to continue increasing airplane production without expanding our environmental footprint,” Smith said, announcing that Boeing is committing to zero-carbon growth from operations for the period 2013 to 2017.
Boeing also reaffirmed its commitment to help the global airline industry meet its goal of achieving zero-carbon growth after the year 2020.
It is estimated that commercial air travel accounts for between 2 and 3 percent of global CO2 emissions.
To reduce the environmental footprint of aerospace, Boeing is focusing on new technologies such as:
Light-weight, more-efficient airplanes such as the 787 Dreamliner, the new 747-8 and the 737 MAX — each of which offer double-digit improvements in fuel economy and carbon emissions compared to the airplanes they replace.
Promoting the development and commercialization of sustainable aviation biofuels derived from sea grasses, algae and other substances that don’t compete with food crops for land or water.
Modernizing the global air traffic management system, with the potential to reduce the carbon footprint of commercial air travel by 12 percent.
It is estimated that reducing the length of the average flight by one minute would reduce annual CO2 emissions by nearly 4.4 metric tons.
“Airlines, research institutions and companies in the region are leaders in developing a cleaner future for the global aviation industry,” Smith said.
“The region’s airlines operate some of the world’s modern, most-fuel efficient fleets of aircraft. They are actively developing cleaner, alternative aviation fuels,” Smith added.
“These airlines are devoted to recycling, conserving water and reducing emissions in their operations. And they are leading participants in international efforts to minimize the environmental footprint of aviation.”


Iran rial plunges to new lows as US sanctions loom

Updated 24 June 2018
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Iran rial plunges to new lows as US sanctions loom

  • The dollar was being offered for as much as 87,000 rials, compared to around 75,500 on Thursday
  • The currency has been sliding for months because of a weak economy

DUBAI: The Iranian rial plunged to a record low against the US dollar on the unofficial market on Sunday, continuing its slide amid fears of returning US sanctions after President Donald Trump in May withdrew from a deal on Tehran’s nuclear program.
The dollar was being offered for as much as 87,000 rials, compared to around 75,500 on Thursday, the last trading day before Iran’s weekend, according to foreign exchange website Bonbast.com, which tracks the unofficial market.
Iran’s semi-official news agency ISNA said the dollar had climbed to 87,000 rials on Sunday from about 74,000 before the weekend on the black market, and several Iranian websites carried similar reports.
The currency has been sliding for months because of a weak economy, financial difficulties at local banks and heavy demand for dollars among Iranians who fear the pullout by Washington from the nuclear deal and renewed US sanctions against Tehran could shrink the country’s exports of oil and other goods.
The fall of the national currency has provoked a public outcry over the quick rise of prices of imported consumer goods.
Merchants at the mobile phone shopping centers Aladdin and Charsou in central Tehran protested against the rapid depreciation of the rial by shutting down their shops on Sunday, the semi-official news agency Fars reported.
A video posted on social media showed protesters marching and chanting “strike, strike!” The footage could not be authenticated independently by Reuters.
Hours later, Information and Communications Technology Minister Mohammad Javad Azari-Jahromi said on Twitter that he visited the protesting merchants.
“I will try to help provide hard currency for (mobile) equipment (imports),” Azari-Jahromi wrote, adding: “The merchants’ activity has now gone back to normal.”
Some of the US sanctions against Iran take effect after a 90-day “wind-down” period ending on Aug. 6, and the rest, most notably on the petroleum sector, after a 180-day “wind-down” period ending on Nov. 4.
The rial has weakened from around 65,000 rials just before Trump’s announcement of the US withdrawal in early May, and from 42,890 at the end of last year — a freefall that threatens to boost inflation, hurt living standards and reduce the ability of Iranians to travel abroad.
In an effort to halt the slide, Iranian authorities announced in April they were unifying the dollar’s official and black market exchange rates at a single level of 42,000, and banning any trade at other rates under the threat of arrest.
But this step has failed to stamp out the unofficial market because authorities have been supplying much less hard currency through official channels than consumers are demanding. Free market trade simply went underground, dealers said.