AerCap Publishes ESG Report for 2023

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Apr 22, 2024, 07:04 ET

DUBLIN, April 22, 2024 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced the publication of its seventh annual Environmental, Social, and Governance ("ESG") Report, for the year ended December 31, 2023.

The report sets out in detail AerCap's commitment to growing its business in a responsible and sustainable way and includes a number of environmental, social, and governance disclosures. The ESG Report is produced with reference to the Global Reporting Initiative ("GRI") Standards. The report can be found here or on the ESG section of our website.

Key highlights of the report include:

Our ESG ratings have continued to show a positive trajectory as evidenced by our recent rating improvements. In September 2023, we were upgraded by MSCI ESG Ratings to 'AA' or 'Leader' level, and in April 2024, we were upgraded by Morningstar Sustainalytics to 'Low Risk' level.
We continued our corporate fleet modernization strategy to ensure we own the most in-demand and fuel-efficient aircraft, with ~$50 billion invested in new technology aircraft since 2014.
As of December 31, 2023, AerCap's fleet comprised of ~70% new technology aircraft by net book value and ~80% new technology engines, with an additional ~$18 billion of new technology assets on order.
Our indirect Scope 3 emissions intensity improved in 2023. We have achieved a 15% reduction in gCO₂ per seat/km across our entire fleet over the last decade, notwithstanding our fleet doubling in size during this period.
We continued to make progress on our Diversity, Equity, Inclusion and Belonging ("DEIB") framework and strategy, conducting focus groups and training sessions throughout 2023 to focus on the issues that matter most to our employees.
We had continuous engagement and collaboration with regulatory authorities and the wider aviation industry on policy and decarbonization matters through our dedicated Government Affairs & Sustainability function, aiding our situational awareness and ability to engage on key policy developments.
Together with our employees, AerCap donated over $800,000 to charitable and social causes and partnerships in 2023.

Stacey Cartwright, ESG Committee Chair, said, "We are very pleased to launch AerCap's ESG Report for the year 2023, coinciding with World Earth Day. As the leading aviation lessor, AerCap is deeply invested in fostering sustainable growth within our industry. We recognize aviation's indispensable role in economic development, fostering international relations, and facilitating cross-border trade. We firmly believe that sustainability cannot exist in isolation but must be seamlessly integrated into our overarching corporate strategy. Our approach for the year ahead will continue to be twofold: to assert control where feasible and to exert influence where necessary. By staying ahead of emerging trends and preparing for future challenges, we are confident in our ability to lead our industry toward a more sustainable future."

Aengus Kelly, the CEO of AerCap, said, "One of the cornerstones to decarbonization is fleet renewal and AerCap plays a leading role by investing in the most fuel-efficient, new technology assets. In that regard, since 2014 we have invested ~$50 billion in new technology aircraft, more than any other airline or lessor, thereby lowering the operating costs and carbon emissions of our airline customers. Many airlines lack the financing or delivery slots to enable their transition, and given the continuing OEM supply chain constraints, AerCap plays a key role in assisting with their decarbonization efforts. In that respect, during 2023, our team completed 953 transactions, which included 592 lease agreements and the purchase of 173 assets. As our assets are operated by our customers, we do not have direct control over 99.9% of our emissions, so we must focus on the levers under our direct control or influence. AerCap is taking account of all decarbonization tools and regulatory obligations in our efforts to support Net-Zero Aviation 2050. Our decisions must take account of investor expectations and customer needs, while at the same time ensuring the best use of capital deployed."

About AerCap

AerCap is the global leader in aviation leasing with one of the most attractive order books in the industry. AerCap serves approximately 300 customers around the world with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and is based in Dublin with offices in Shannon, Miami, Singapore, Memphis, Amsterdam, Shanghai, Dubai, Seattle, Toulouse and other locations around the world.

Forward-Looking Statements

This press release contains certain statements, estimates and forecasts with respect to future performance and events. These statements, estimates and forecasts are "forward-looking statements". In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as "may," "might," "should," "expect," "plan," "intend," "will," "aim," "estimate," "anticipate," "believe," "predict," "potential" or "continue" or the negatives thereof or variations thereon or similar terminology. All statements other than statements of historical fact included in this press release are forward-looking statements and are based on various underlying assumptions and expectations and are subject to known and unknown risks, uncertainties and assumptions, and may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors, including the impacts of, and associated responses to the Ukraine Conflict, that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied in the forward-looking statements. As a result, we cannot assure you that the forward-looking statements included in this press release will prove to be accurate or correct. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this press release might not occur. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information regarding AerCap and to be added to our email distribution list, please visit www.aercap.com.

SOURCE AerCap Holdings N.V.